Nova (NASDAQ:NVMI) Shares Gap Up – What’s Next?

Nova Ltd. (NASDAQ:NVMI) shares gapped up before the market opened on Thursday . The stock had previously closed at $413.04, but opened at $438.93. Nova shares last traded at $439.49, with a volume of 93,937 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on NVMI. Morgan Stanley began coverage on shares of Nova in a report on Monday, December 1st. They set an “equal weight” rating and a $335.00 price objective on the stock. Benchmark lifted their price target on Nova from $280.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Nova in a report on Monday, December 22nd. Bank of America lifted their target price on shares of Nova from $380.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group raised their price target on shares of Nova from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and a consensus price target of $348.57.

Nova Trading Up 8.1%

The company has a debt-to-equity ratio of 0.62, a current ratio of 4.58 and a quick ratio of 4.00. The firm has a market cap of $13.13 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.84. The company’s 50 day moving average price is $328.09 and its 200 day moving average price is $304.44.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVMI. Measured Wealth Private Client Group LLC purchased a new position in shares of Nova in the 3rd quarter valued at about $40,000. CIBC Private Wealth Group LLC raised its holdings in Nova by 75.7% during the third quarter. CIBC Private Wealth Group LLC now owns 130 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 56 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Nova by 51.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 164 shares of the semiconductor company’s stock worth $45,000 after buying an additional 56 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Nova by 2,042.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 143 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Nova by 182.7% in the 2nd quarter. Parallel Advisors LLC now owns 212 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Company Profile

Nova Measuring Instruments Ltd (NASDAQ: NVMI) develops and supplies advanced metrology and process control systems for the semiconductor manufacturing industry. The company’s core product line includes spectroscopic ellipsometry and scatterometry tools designed to measure film thickness, critical dimensions, overlay alignment and other key parameters that drive yield and performance in integrated circuit fabrication.

Founded in 1993 and headquartered in Rehovot, Israel, Nova Measuring Instruments has established itself as a critical partner to leading semiconductor foundries and device manufacturers.