Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Friday.
Several other analysts have also recently commented on the company. Zacks Investment Research cut Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Stifel Nicolaus upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating and lifted their price target for the company from $18.00 to $25.00 in a report on Tuesday, May 9th. BidaskClub upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Needham & Company LLC lifted their price target on Nova Measuring Instruments from $27.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $27.50.
Nova Measuring Instruments (NVMI) opened at 22.85 on Friday. The firm has a 50-day moving average of $23.86 and a 200-day moving average of $20.59. Nova Measuring Instruments has a 52-week low of $11.14 and a 52-week high of $28.41. The firm has a market cap of $631.92 million, a PE ratio of 20.89 and a beta of 0.84.
Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $54.48 million. Nova Measuring Instruments had a return on equity of 26.03% and a net margin of 14.79%. The firm’s quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. Equities analysts anticipate that Nova Measuring Instruments will post $1.79 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake in Nova Measuring Instruments by 125.9% in the second quarter. Acadian Asset Management LLC now owns 736,869 shares of the semiconductor company’s stock valued at $16,278,000 after buying an additional 410,660 shares during the period. Systematic Financial Management LP acquired a new stake in Nova Measuring Instruments during the first quarter valued at approximately $5,968,000. Norges Bank acquired a new stake in Nova Measuring Instruments during the fourth quarter valued at approximately $4,278,000. EAM Investors LLC acquired a new stake in Nova Measuring Instruments during the first quarter valued at approximately $2,553,000. Finally, Renaissance Technologies LLC boosted its stake in Nova Measuring Instruments by 4.7% in the first quarter. Renaissance Technologies LLC now owns 2,168,600 shares of the semiconductor company’s stock valued at $40,314,000 after buying an additional 97,300 shares during the period. Institutional investors own 39.34% of the company’s stock.
About Nova Measuring Instruments
Nova Measuring Instruments Ltd. provides metrology solutions for the semiconductor manufacturing industry. The Company offers in-line Optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems, which are attached directly to wafer fabrication process equipment. Its metrology systems measure various film thickness and composition properties, as well as critical-dimension (CD) variables during various front-end and back-end of line steps in the semiconductor wafer fabrication process.
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