Congress Wealth Management LLC DE Has $7.28 Million Stake in Nova Ltd. (NASDAQ:NVMI)

Congress Wealth Management LLC DE lifted its stake in shares of Nova Ltd. (NASDAQ:NVMI) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,974 shares of the semiconductor company’s stock after acquiring an additional 1,442 shares during the period. Congress Wealth Management LLC DE owned 0.13% of Nova worth $7,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP increased its stake in Nova by 438.5% in the third quarter. Quarry LP now owns 140 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Nova by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after buying an additional 78 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Nova by 24.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 401 shares of the semiconductor company’s stock worth $79,000 after buying an additional 78 shares during the period. SBI Securities Co. Ltd. bought a new position in Nova in the fourth quarter worth approximately $112,000. Finally, PNC Financial Services Group Inc. grew its stake in Nova by 79.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the semiconductor company’s stock valued at $233,000 after acquiring an additional 524 shares during the period. 82.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark upped their target price on Nova from $245.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Cantor Fitzgerald reduced their price objective on shares of Nova from $315.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Nova in a research report on Friday, February 14th. Finally, Citigroup raised shares of Nova from a “neutral” rating to a “buy” rating and raised their price target for the company from $226.00 to $240.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.83.

Nova Stock Performance

Nova stock opened at $201.37 on Wednesday. Nova Ltd. has a fifty-two week low of $158.00 and a fifty-two week high of $289.90. The firm’s 50-day simple moving average is $237.63 and its 200 day simple moving average is $210.71. The stock has a market cap of $5.90 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46.

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

Nova 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.