Zacks Investment Research lowered shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) from a buy rating to a hold rating in a research report report published on Wednesday morning.

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 equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and issued a $14.00 price target on shares of Nova Measuring Instruments in a research note on Monday, August 22nd. Canaccord Genuity reaffirmed a buy rating and issued a $14.00 price target on shares of Nova Measuring Instruments in a research note on Thursday, August 4th.

Nova Measuring Instruments (NASDAQ:NVMI) traded down 0.25% during midday trading on Wednesday, hitting $11.75. The stock had a trading volume of 13,377 shares. The firm has a market cap of $318.68 million, a price-to-earnings ratio of 19.58 and a beta of 1.52. Nova Measuring Instruments has a 52 week low of $8.57 and a 52 week high of $12.26. The firm has a 50 day moving average of $11.85 and a 200 day moving average of $11.33.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The company had revenue of $35.60 million for the quarter, compared to analysts’ expectations of $36.02 million. Nova Measuring Instruments had a return on equity of 11.58% and a net margin of 11.10%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities research analysts predict that Nova Measuring Instruments will post $0.81 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Algert Global LLC increased its position in shares of Nova Measuring Instruments by 109.9% in the first quarter. Algert Global LLC now owns 22,935 shares of the company’s stock worth $239,000 after buying an additional 12,010 shares during the last quarter. Royce & Associates LP increased its position in shares of Nova Measuring Instruments by 20.8% in the first quarter. Royce & Associates LP now owns 262,950 shares of the company’s stock worth $2,737,000 after buying an additional 45,200 shares during the last quarter. Spark Investment Management LLC increased its position in shares of Nova Measuring Instruments by 21.6% in the first quarter. Spark Investment Management LLC now owns 33,200 shares of the company’s stock worth $345,000 after buying an additional 5,900 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Nova Measuring Instruments by 24.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 12,550 shares of the company’s stock worth $130,000 after buying an additional 2,500 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 during the last quarter. 33.71% of the stock is currently owned by hedge funds and other 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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