James Investment Research Inc. Reduces Stake in Nova Ltd. (NASDAQ: NVMI)

James Investment Research Inc. has recently informed the Securities and Exchange Commission (SEC) that it reduced its stake in Nova Ltd. (NASDAQ: NVMI) by 8.9% in the third quarter. Following the sale of 4,479 shares during this period, the firm now holds a total of 45,687 shares in the semiconductor company. This adjustment reflects that Nova comprises approximately 1.1% of James Investment Research Inc.'s overall investment portfolio, ranking it as the company’s 23rd largest holding. As of the latest filing, the firm’s ownership represents about 0.16% of Nova, valued at approximately $9,518,000.

In addition, several other institutional investors have made changes to their positions in Nova. For instance, the Employees Retirement System of Texas acquired a new stake during the second quarter, estimated to be worth around $68,000. Similarly, FSC Wealth Advisors LLC also secured a new investment in Nova during the same period amounting to about $79,000. Signaturefd LLC increased its holdings in Nova by 15.9% during the second quarter, now owning 767 shares valued at $180,000 after adding 105 shares. OLD National Bancorp IN and The Manufacturers Life Insurance Company also entered new positions in Nova, valued at about $205,000 and $211,000 respectively. Overall, institutional investors and hedge funds hold 82.99% of Nova's stock.

Recent Analyst Opinions

Various research firms have recently provided insights on NVMI. Citigroup downgraded Nova from a "buy" rating to a "neutral" rating, adjusting their price target from $273.00 down to $224.00 in a report dated September 16. Conversely, Benchmark raised their price target for Nova from $215.00 to $240.00, maintaining a "buy" rating in a note released on August 9. Presently, two analysts have assigned a hold rating while four have given a buy recommendation. MarketBeat reveals that the consensus rating for Nova is a "Moderate Buy" with a target price set at $226.80.

Performance Review of Nova Ltd.

NOVA shares began trading at $184.99 on Friday, with a market capitalization of $5.37 billion. The company has a price-to-earnings ratio of 38.46 and a PEG ratio of 2.04, alongside a beta of 1.46. It has a fifty-day moving average price of $201.28 and a two-hundred day moving average price of $207.00. Over the past year, Nova's stock reached a low of $98.19 and a high of $247.21.

NOVA recently released its earnings report on August 8, indicating an earnings per share (EPS) of $1.61 for the quarter. This figure exceeded analysts' expectations of $1.18 by $0.43. The company's revenue for the quarter was reported at $156.86 million, surpassing the consensus estimate of $148.12 million. Nova's net margin was 27.38%, while its return on equity stood at 20.76%. Compared to the same quarter last year, the company saw a revenue increase of 27.8%. Last year during this period, Nova had an EPS of $0.97. Analysts project that Nova Ltd. will achieve an EPS of 5.63 for the current year.

About Nova Ltd.

Nova Ltd. designs, develops, produces, and sells process control systems crucial for semiconductor manufacturing, serving markets in Israel, Taiwan, the United States, China, Korea, and internationally. Its portfolio includes several metrology platforms used for dimensions, films, materials, and chemical metrology measurements during various semiconductor manufacturing processes such as lithography, etching, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging.

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