The Israeli company's share price has risen 73.2% since the beginning of the year and is trading at an all-time record high of $238.
Israeli company NOVA LIMITED. (Nasdaq:Nefimy; level:Nefimy, which provides measurement devices for advanced process control used in semiconductor manufacturing, saw its stock price rise 8.4% last week including 1.3% in trading on Thursday and Friday. The company's stock price is up 73.2% since the beginning of the year and is trading at an all-time record high of $238, giving a market capitalization of $6.912 billion.
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Nova, led by CEO Gabriel Weissman, is benefiting from a supportive environment in the chip industry due to increased demand for artificial intelligence applications. Recently, Bank of America flagged Nova as one of its recommended small- and mid-cap stocks, writing that Nova's “measurable exposure to AI, broadband memory (HBM) components and advanced packages should lead to outpacing growth.” For the industry in 2024-2025.” Bank of America expects Nova to grow at about 15%, compared to a single-digit rate for the industry.
Earlier last week, it was reported that Fidelity Management & Research (FMR) had increased its stake in Nova, from around 8.4% in its previous report in February, to 10%.
Published by Globes, Israel Business News – en.globes.co.il – on June 16, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Nova CEO Gabe Weissman Credit: Nova