Nova Measuring Instruments Ltd. (NASDAQ:NVMI)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Thursday. They presently have a $32.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 6.38% from the stock’s previous close.

A number of other equities analysts also recently commented on NVMI. Stifel Nicolaus boosted their price objective on Nova Measuring Instruments from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research cut Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Nova Measuring Instruments from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Nova Measuring Instruments currently has an average rating of “Buy” and a consensus price target of $30.25.

Nova Measuring Instruments (NASDAQ:NVMI) traded down 1.34% during mid-day trading on Thursday, hitting $30.08. 302,084 shares of the company’s stock traded hands. The stock has a market cap of $831.86 million, a PE ratio of 27.50 and a beta of 0.91. The firm’s 50-day moving average price is $26.83 and its 200-day moving average price is $23.86. Nova Measuring Instruments has a one year low of $11.83 and a one year high of $31.18.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $54.48 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was up 57.6% on a year-over-year basis. On average, analysts forecast that Nova Measuring Instruments will post $1.79 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of NVMI. Acadian Asset Management LLC lifted 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 last quarter. OxFORD Asset Management LLP purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $2,719,000. PDT Partners LLC purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $2,312,000. Renaissance Technologies LLC lifted 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 last quarter. Finally, Delphi Management Inc. MA purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $1,614,000. Institutional investors own 39.85% 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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