Quantbot Technologies LP Buys 7,678 Shares of Nova Ltd. (NASDAQ:NVMI)

Quantbot Technologies LP boosted its position in shares of Nova Ltd. (NASDAQ:NVMI) by 131.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,540 shares of the semiconductor company’s stock after purchasing an additional 7,678 shares during the period. Quantbot Technologies LP’s holdings in Nova were worth $2,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVMI. Advisors Asset Management Inc. grew its holdings in shares of Nova by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 165 shares of the semiconductor company’s stock worth $34,000 after buying an additional 78 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in Nova during the 2nd quarter valued at $68,000. FSC Wealth Advisors LLC bought a new position in Nova during the second quarter worth $79,000. Signaturefd LLC increased its holdings in shares of Nova by 15.9% in the second quarter. Signaturefd LLC now owns 767 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 105 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Nova by 46.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,038 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 328 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Nova Stock Performance

Nova stock opened at $172.39 on Thursday. The firm has a 50 day moving average price of $193.50 and a two-hundred day moving average price of $208.56. Nova Ltd. has a 52-week low of $123.44 and a 52-week high of $247.21. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.66 and a beta of 1.47.

Analyst Ratings Changes

NVMI has been the topic of a number of analyst reports. Citigroup lowered shares of Nova from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $273.00 to $224.00 in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Nova in a research report on Friday, November 8th. Finally, Benchmark lifted their price objective on Nova from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two investment 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, Nova has a consensus rating of “Moderate Buy” and an average price target of $227.80.

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.