Truvestments Capital LLC Has $991,000 Stock Position in Nova Ltd. (NASDAQ:NVMI)

Truvestments Capital LLC lifted its stake in Nova Ltd. (NASDAQ:NVMI) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,032 shares of the semiconductor company’s stock after acquiring an additional 84 shares during the period. Truvestments Capital LLC’s holdings in Nova were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nova by 0.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,576 shares of the semiconductor company’s stock worth $2,482,000 after buying an additional 85 shares in the last quarter. Amundi boosted its stake in Nova by 4.7% during the fourth quarter. Amundi now owns 8,133 shares of the semiconductor company’s stock worth $1,602,000 after buying an additional 364 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Nova by 79.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company’s stock worth $233,000 after buying an additional 524 shares in the last quarter. Callan Family Office LLC acquired a new stake in Nova during the fourth quarter worth $611,000. Finally, Raymond James Financial Inc. acquired a new stake in Nova during the fourth quarter worth $6,541,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Performance

Shares of NASDAQ NVMI opened at $211.64 on Wednesday. The business has a fifty day moving average of $239.18 and a two-hundred day moving average of $211.24. Nova Ltd. has a 52-week low of $158.00 and a 52-week high of $289.90. The stock has a market cap of $6.20 billion, a PE ratio of 36.87, a PEG ratio of 2.55 and a beta of 1.46.

Nova (NASDAQ:NVMI) last released its quarterly earnings results on Thursday, February 13th. The semiconductor company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). Nova had a net margin of 27.33% and a return on equity of 22.33%. The business had revenue of $194.77 million during the quarter, compared to the consensus estimate of $186.50 million. Analysts predict that Nova Ltd. will post 7.52 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on NVMI. Cantor Fitzgerald began coverage on shares of Nova in a research note on Monday, January 13th. They set an “overweight” rating and a $275.00 price target on the stock. Citigroup upgraded shares of Nova from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $226.00 to $240.00 in a research note on Monday, January 6th. Benchmark lifted their price objective on Nova from $245.00 to $295.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Nova in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average price target of $246.67.

Nova Company Profile

Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology platforms for dimensional, films, and materials and chemical metrology measurements for process control for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.