Nova Measuring Instruments (NVMI) Downgraded to Hold at BidaskClub

Nova Measuring Instruments (NASDAQ:NVMI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also commented on NVMI. Lake Street Capital assumed coverage on Nova Measuring Instruments in a research report on Monday, March 26th. They issued a “buy” rating and a $33.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of Nova Measuring Instruments in a research report on Monday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Nova Measuring Instruments in a research report on Tuesday, February 13th. Finally, Zacks Investment Research lowered Nova Measuring Instruments from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.80.

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Shares of NVMI opened at $25.95 on Friday. The company has a market capitalization of $723.95, a PE ratio of 14.03 and a beta of 0.77. Nova Measuring Instruments has a 52 week low of $17.09 and a 52 week high of $31.88.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its earnings results on Tuesday, February 13th. The semiconductor company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $57.40 million during the quarter, compared to analyst estimates of $55.42 million. Nova Measuring Instruments had a return on equity of 25.05% and a net margin of 20.93%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. research analysts expect that Nova Measuring Instruments will post 1.9 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its position in Nova Measuring Instruments by 174.2% during the 4th quarter. Advisor Group Inc. now owns 7,005 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 4,450 shares during the period. Koch Industries Inc. acquired a new position in Nova Measuring Instruments during the 4th quarter valued at approximately $215,000. ARK Investment Management LLC acquired a new position in Nova Measuring Instruments during the 4th quarter valued at approximately $220,000. Russell Investments Group Ltd. acquired a new position in Nova Measuring Instruments during the 3rd quarter valued at approximately $237,000. Finally, Harbour Capital Advisors LLC acquired a new position in Nova Measuring Instruments during the 4th quarter valued at approximately $272,000. Institutional investors and hedge funds own 44.01% of the company’s stock.

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About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. 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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