Nova Ltd. (NASDAQ:NVMI) Sees Large Increase in Short Interest
Nova Ltd. (NASDAQ:NVMI – Get Free Report) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 846,700 shares, a growth of 15.3% from the November 15th total of 734,100 shares. Based on an average trading volume of 124,200 shares, the short-interest ratio is currently 6.8 days.
Nova Trading Down 0.9 %
Shares of NVMI traded down $1.26 during trading hours on Friday, reaching $132.40. 124,535 shares of the stock traded hands, compared to its average volume of 122,052. The stock has a fifty day simple moving average of $112.92 and a 200 day simple moving average of $115.11. Nova has a 52 week low of $79.21 and a 52 week high of $135.00. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 5.69 and a beta of 1.35.
Nova (NASDAQ:NVMI – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.96 by $0.15. Nova had a net margin of 25.11% and a return on equity of 21.60%. The business had revenue of $128.81 million for the quarter, compared to analyst estimates of $123.00 million. Analysts predict that Nova will post 4.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Nova in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Benchmark dropped their price target on Nova from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, November 10th.
Get Our Latest Analysis on NVMI
Hedge Funds Weigh In On Nova
Several hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in Nova by 2.2% in the 2nd quarter. Wasatch Advisors LP now owns 3,552,045 shares of the semiconductor company’s stock worth $416,655,000 after buying an additional 75,479 shares in the last quarter. FMR LLC grew its stake in Nova by 7.5% in the 1st quarter. FMR LLC now owns 2,420,192 shares of the semiconductor company’s stock worth $252,825,000 after buying an additional 168,095 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Nova by 2.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,312,919 shares of the semiconductor company’s stock worth $147,625,000 after buying an additional 27,050 shares in the last quarter. Vanguard Group Inc. grew its stake in Nova by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 904,099 shares of the semiconductor company’s stock worth $77,120,000 after buying an additional 39,986 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Nova by 9.5% in the 2nd quarter. Acadian Asset Management LLC now owns 803,203 shares of the semiconductor company’s stock worth $94,189,000 after buying an additional 69,699 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
About Nova (Get Free Report)
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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Original: MarketBeat News Feed: Nova Ltd. (NASDAQ:NVMI) Sees Large Increase in Short Interest