Congress Wealth Management LLC DE Purchases New Stake in Nova Ltd. (NASDAQ:NVMI)

Congress Wealth Management LLC DE purchased a new stake in shares of Nova Ltd. (NASDAQ:NVMI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,345 shares of the semiconductor company's stock, valued at approximately $5,737,000. Congress Wealth Management LLC DE owned 0.11% of Nova at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. McLean Asset Management Corp acquired a new position in Nova in the 1st quarter worth about $262,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Nova in the 4th quarter worth about $3,190,000. Vanguard Group Inc. increased its position in Nova by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 972,956 shares of the semiconductor company's stock worth $133,674,000 after purchasing an additional 13,891 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Nova by 49.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 142,073 shares of the semiconductor company's stock worth $19,519,000 after purchasing an additional 47,295 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in Nova by 17.2% in the 4th quarter. State of Tennessee Treasury Department now owns 82,443 shares of the semiconductor company's stock worth $11,327,000 after purchasing an additional 12,120 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Nova Trading Down 0.7 %

NASDAQ:NVMI traded down $1.68 during mid-day trading on Monday, hitting $232.85. 188,834 shares of the company's stock traded hands, compared to its average volume of 171,003. The firm has a 50 day moving average of $207.71 and a two-hundred day moving average of $175.29. Nova Ltd. has a 12 month low of $90.59 and a 12 month high of $242.93. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 53.65, a price-to-earnings-growth ratio of 3.41 and a beta of 1.47.

Nova (NASDAQ:NVMI - Get Free Report) last announced its earnings results on Thursday, May 9th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.29. Nova had a return on equity of 19.89% and a net margin of 26.26%. The firm had revenue of $141.80 million during the quarter, compared to the consensus estimate of $136.78 million. During the same quarter in the prior year, the company earned $1.12 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Nova Ltd. will post 4.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVMI. Needham & Company LLC reaffirmed a "hold" rating on shares of Nova in a research report on Friday, May 10th. Evercore ISI began coverage on Nova in a report on Tuesday, April 16th. They set an "outperform" rating and a $210.00 price objective on the stock. Bank of America increased their price objective on Nova from $190.00 to $220.00 and gave the company a "buy" rating in a report on Friday, May 10th. Benchmark increased their price objective on Nova from $187.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 10th. Finally, Jefferies Financial Group began coverage on Nova in a report on Monday, May 13th. They set a "buy" rating and a $240.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nova presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.25.

Read Our Latest Stock Analysis on Nova

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.

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