Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “NOVA MEASURING develops, produces and markets monitoring and measurement systems for the semiconductor manufacturing industry. The company has pioneered the Integrated Metrology concept and is now expanding its activities by developing Integrated Monitoring and Process Control systems for CMP, CVD, Photolithography and Etch manufacturing processes. The company’s systems for CMP process control, delivering systems for CMP process control, delivering have measured more wafers than all other metrology companies combined. “
Other research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Nova Measuring Instruments in a report on Monday, August 22nd. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price target on shares of Nova Measuring Instruments in a report on Thursday, August 4th.
Nova Measuring Instruments (NASDAQ:NVMI) traded down 0.26% on Wednesday, hitting $11.73. The stock had a trading volume of 311 shares. The company’s 50 day moving average price is $11.85 and its 200-day moving average price is $11.34. Nova Measuring Instruments has a 12-month low of $8.57 and a 12-month high of $12.26. The company has a market cap of $318.14 million, a price-to-earnings ratio of 19.55 and a beta of 1.52.
Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The firm earned $35.60 million during the quarter, compared to the consensus estimate of $36.02 million. Nova Measuring Instruments had a return on equity of 11.58% and a net margin of 11.10%. Nova Measuring Instruments’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. Equities research analysts anticipate that Nova Measuring Instruments will post $0.81 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Nova Measuring Instruments during the second quarter worth approximately $13,286,000. Menora Mivtachim Holdings LTD. increased its position in Nova Measuring Instruments by 93.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 549,784 shares of the company’s stock worth $6,015,000 after buying an additional 265,209 shares in the last quarter. Wellington Management Group LLP increased its position in Nova Measuring Instruments by 16.6% in the first quarter. Wellington Management Group LLP now owns 1,071,666 shares of the company’s stock worth $11,156,000 after buying an additional 152,500 shares in the last quarter. Vanguard Group Inc. increased its position in Nova Measuring Instruments by 21.8% in the second quarter. Vanguard Group Inc. now owns 454,631 shares of the company’s stock worth $4,974,000 after buying an additional 81,376 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Nova Measuring Instruments by 135.4% in the second quarter. Oppenheimer & Co. Inc. now owns 101,270 shares of the company’s stock worth $1,108,000 after buying an additional 58,255 shares in the last quarter. 33.71% of the stock is currently owned by institutional investors.
About Nova Measuring Instruments
Nova Measuring Instruments Ltd. designs, develops and produces integrated process control systems for use in the manufacture of semiconductors, also known as integrated circuits or chips. The Company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment.
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