Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

Other equities analysts also recently issued reports about the company. Needham & Company LLC upped 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. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, August 8th. BidaskClub raised shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus raised their price objective on shares of Nova Measuring Instruments from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, June 26th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $27.50.

Shares of Nova Measuring Instruments (NASDAQ:NVMI) traded up 8.36% during midday trading on Monday, hitting $30.46. The stock had a trading volume of 913,213 shares. The stock has a market cap of $841.67 million, a PE ratio of 43.51 and a beta of 0.90. Nova Measuring Instruments has a one year low of $11.64 and a one year high of $30.72. The firm has a 50 day moving average price of $24.77 and a 200 day moving average price of $22.88.

Nova Measuring Instruments (NASDAQ:NVMI) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. Nova Measuring Instruments had a return on equity of 26.03% and a net margin of 14.79%. The business had revenue of $56.10 million for the quarter, compared to the consensus estimate of $54.48 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 57.6% on a year-over-year basis. On average, equities analysts forecast that Nova Measuring Instruments will post $1.79 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of NVMI. Navellier & Associates Inc lifted its holdings in shares of Nova Measuring Instruments by 26.1% in the 2nd quarter. Navellier & Associates Inc now owns 29,166 shares of the semiconductor company’s stock valued at $644,000 after purchasing an additional 6,036 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nova Measuring Instruments in the 2nd quarter valued at about $373,000. Delphi Management Inc. MA acquired a new stake in shares of Nova Measuring Instruments in the 2nd quarter valued at about $1,614,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Nova Measuring Instruments in the 2nd quarter valued at about $348,000. Finally, State Street Corp boosted its position in shares of Nova Measuring Instruments by 1.6% in the 2nd quarter. State Street Corp now owns 13,816 shares of the semiconductor company’s stock valued at $305,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 39.85% of the company’s stock.

Nova Measuring Instruments Company Profile

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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