Nova Stock Up 80% in a Year, so What Should Investors Know About This $194 Million Sale?

On February 12, 2026, Wasatch Advisors LP disclosed in an SEC filing that it reduced its position in Nova Ltd. (NASDAQ:NVMI) by 603,907 shares in the fourth quarter, an estimated $194.15 million trade based on quarterly average pricing.

What happened

According to a recent SEC filing, Wasatch Advisors sold 603,907 shares of Nova in the fourth quarter of 2025. The estimated transaction value was $194.15 million, based on the average closing price for the period. The quarter-end value of the NVMI position fell by $181.36 million, a figure reflecting the combined effect of share sales and price movements during the quarter.

What else to know

• Wasatch Advisors’ sale reduced Nova to 2.61% of the fund’s $16.83 billion 13F reportable AUM, but it remains a top holding.
• Top holdings after the filing:
  • NASDAQ: HQY: $603.68 million (3.6% of AUM)
  • NASDAQ: ENSG: $494.48 million (2.9% of AUM)
  • NYSE: RBC: $449.93 million (2.7% of AUM)
  • NASDAQ: NVMI: $439.43 million (2.6% of AUM)
  • NYSE: FOUR: $426.87 million (2.5% of AUM)
• As of February 12, 2026, Nova Ltd. shares were priced at $443.55, up 80% over the past year and well outperforming the S&P 500 by 68 percentage points.

Company overview

Company snapshot

• Nova designs and manufactures process control systems and metrology platforms for semiconductor fabrication, including dimensional, film, and materials measurement solutions.
• The company generates revenue by selling advanced metrology equipment and related solutions to semiconductor manufacturers, supporting critical process steps such as lithography, etch, and deposition.
• It serves global integrated circuit manufacturers, including logic, foundry, and memory sectors, as well as process equipment suppliers.

Nova Ltd. delivers metrology and process control solutions to semiconductor manufacturers worldwide, supporting advanced chip production. The company operates at scale within the semiconductor equipment industry, leveraging proprietary metrology technologies to address complex process control challenges in chip manufacturing. Its strategy centers on innovation and global reach, enabling it to serve leading semiconductor producers across multiple geographies. Its competitive edge lies in its specialized measurement solutions that support advanced manufacturing nodes and evolving customer requirements.

What this transaction means for investors

When a disciplined growth manager trims a semiconductor winner after an 80% run, it is usually about portfolio construction, not panic.

Nova just posted record 2025 revenue of $880.6 million, up 31% year over year, alongside GAAP net income of $259.2 million and diluted EPS of $7.96. Management also guided first-quarter revenue between $222 million and $232 million, signaling continued strength into this year.

Against that backdrop, reducing roughly $194 million worth of shares after a massive rally looks like risk management. The position still accounts for about 2.6% of reportable assets and remains a top holding, alongside other durable growth names such as HealthEquity, Ensign Group, and Shift4.

For long-term investors, the key question is not whether someone trimmed after a big year. It is whether Nova can sustain leadership in process control as AI-driven chip demand accelerates. And with record profitability, expanding metrology adoption, and improving margins, the fundamentals remain intact. A sale into strength does not erase a thesis built on structural semiconductor investment.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends RBC Bearings and Shift4 Payments. The Motley Fool has a disclosure policy.