Quarry LP Raises Stake in Nova Ltd. (NASDAQ:NVMI)

Quarry LP increased its stake in Nova Ltd. (NASDAQ:NVMI) by 438.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140 shares of the semiconductor company’s stock after buying an additional 114 shares during the period. Quarry LP’s holdings in Nova were worth $29,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NVMI. Clal Insurance Enterprises Holdings Ltd grew its stake in Nova by 74.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,281,869 shares of the semiconductor company’s stock worth $267,487,000 after acquiring an additional 547,833 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Nova by 131.0% in the third quarter. Quantbot Technologies LP now owns 13,540 shares of the semiconductor company’s stock valued at $2,821,000 after purchasing an additional 7,678 shares during the period. LMR Partners LLP bought a new position in Nova in the third quarter worth approximately $15,669,000. BNP Paribas Financial Markets increased its holdings in Nova by 170.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,987 shares of the semiconductor company’s stock worth $4,581,000 after purchasing an additional 13,858 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Nova by 29.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 166,859 shares of the semiconductor company’s stock valued at $34,940,000 after purchasing an additional 38,005 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Nova Price Performance

NVMI opened at $189.55 on Friday. The firm has a market capitalization of $5.51 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 1.84 and a beta of 1.44. The business’s 50-day moving average is $190.29 and its two-hundred day moving average is $207.47. Nova Ltd. has a 1 year low of $128.60 and a 1 year high of $247.21.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NVMI shares. Citigroup downgraded Nova from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Nova in a report on Friday, November 8th. Finally, Benchmark boosted their price target on shares of Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nova currently has an average rating of “Moderate Buy” and an average price target of $227.80.

About Nova

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.