James Investment Research Inc. Reduces Stake in Nova Ltd.

James Investment Research Inc. has decreased its stake in Nova Ltd. (NASDAQ:NVMI) by 8.9% during the third quarter, as detailed in their latest filing with the Securities and Exchange Commission (SEC). After selling 4,479 shares, the firm now holds a total of 45,687 shares of the semiconductor company. Nova represents approximately 1.1% of James Investment Research Inc.'s investment portfolio, making it their 23rd largest holding. According to the most recent SEC filing, James Investment Research Inc. owned 0.16% of Nova, valued at around $9,518,000.

Additionally, other institutional investors and hedge funds have also altered their positions in Nova. The Employees Retirement System of Texas acquired a new stake in the second quarter, estimated at about $68,000. Similarly, FSC Wealth Advisors LLC purchased shares in Nova worth approximately $79,000 during the same period. Signaturefd LLC increased its holdings in Nova by 15.9% in the second quarter, bringing their total ownership to 767 shares, which are valued at roughly $180,000 after acquiring an additional 105 shares. OLD National Bancorp IN made a new investment in Nova valued at around $205,000, while The Manufacturers Life Insurance Company also entered a new position in the firm, investing approximately $211,000. Overall, institutional investors and hedge funds collectively own 82.99% of the company's stock.

Analyst Insights

Recently, several research firms have provided updates regarding Nova. Citigroup revised its rating for Nova from "buy" to "neutral," reducing their price target for the stock from $273.00 to $224.00 in a report dated September 16th. In contrast, Benchmark raised their price target for Nova from $215.00 to $240.00, assigning the stock a "buy" rating in their research note on August 9th. Currently, two research analysts have given the stock a hold rating, whereas four analysts have rated it as a buy. As reported by MarketBeat, Nova holds a consensus rating of "Moderate Buy" with an average target price set at $226.80.

Current Stock Performance

As of the last trading session, shares of NVMI opened at $184.99. The company's market capitalization is approximately $5.37 billion, with a price-to-earnings ratio of 38.46, a PEG ratio of 2.04, and a beta value of 1.46. The firm has a fifty-day moving average price of $201.28 and a 200-day moving average price of $207.00. Over the past year, Nova Ltd. has seen a low of $98.19 and a high of $247.21.

Nova Ltd. last announced its earnings results on August 8th, where it reported earnings per share (EPS) of $1.61 for the quarter, exceeding analysts' expectations of $1.18 by $0.43. The company reported a revenue of $156.86 million for the quarter, surpassing the consensus estimate of $148.12 million. Nova achieved a net margin of 27.38% and a return on equity of 20.76%. Compared to the same quarter last year, the company's revenue increased by 27.8%. In the previous year, Nova reported an EPS of $0.97. Analysts project that Nova Ltd. will post an EPS of 5.63 for the current fiscal year.

About Nova Ltd.

Nova Ltd. is engaged in the design, development, production, and sale of process control systems used in the semiconductor manufacturing industry across various regions including Israel, Taiwan, the United States, China, and Korea. Their product offerings include a range of metrology platforms designed for dimensional, film, material, and chemical measurements that assist in the semiconductor manufacturing processes, including lithography, etch, chemical mechanical planarization, deposition, and advanced packaging.

investment, semiconductors, stocks