Fintel reports that on January 6, 2025, Citigroup upgraded their outlook for Nova (NasdaqGS:NVMI) from Neutral to Buy.
Analyst Price Forecast Suggests 16.48% Upside
As of December 24, 2024, the average one-year price target for Nova is $238.36/share. The forecasts range from a low of $187.98 to a high of $262.50. The average price target represents an increase of 16.48% from its latest reported closing price of $204.64 / share.
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The projected annual revenue for Nova is 717MM, an increase of 17.25%. The projected annual non-GAAP EPS is 5.49.
What is the Fund Sentiment?
There are 441 funds or institutions reporting positions in Nova. This is an increase of 13 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to NVMI is 0.38%, an increase of 10.42%. Total shares owned by institutions increased in the last three months by 4.10% to 27,134K shares. 
The put/call ratio of NVMI is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
Wasatch Advisors holds 1,615K shares representing 5.54% ownership of the company. In its prior filing, the firm reported owning 2,031K shares , representing a decrease of 25.74%. The firm decreased its portfolio allocation in NVMI by 35.26% over the last quarter.
FSELX - Semiconductors Portfolio holds 1,394K shares representing 4.78% ownership of the company. In its prior filing, the firm reported owning 1,260K shares , representing an increase of 9.60%. The firm increased its portfolio allocation in NVMI by 14.44% over the last quarter.
Menora Mivtachim Holdings holds 1,291K shares representing 4.43% ownership of the company. No change in the last quarter.
Clal Insurance Enterprises Holdings holds 1,282K shares representing 4.39% ownership of the company. In its prior filing, the firm reported owning 734K shares , representing an increase of 42.74%. The firm increased its portfolio allocation in NVMI by 31.60% over the last quarter.
Migdal Insurance & Financial Holdings holds 1,274K shares representing 4.37% ownership of the company. In its prior filing, the firm reported owning 1,196K shares , representing an increase of 6.12%. The firm decreased its portfolio allocation in NVMI by 8.35% over the last quarter.
Nova Background Information
(This description is provided by the company.)
Nova Ltd. is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art high- performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high- precision hardware and cutting-edge software, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova's unique capability to deliver innovative X-ray and Optical solutions enable its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world.
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This story originally appeared on Fintel.
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