Zacks Investment Research cut shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) from a strong-buy rating to a hold rating in a 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 research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Nova Measuring Instruments from a hold rating to a buy rating in a report on Thursday, August 17th. Needham & Company LLC boosted their price objective on shares of Nova Measuring Instruments from $27.00 to $32.00 and gave the stock a buy rating in a report on Friday, June 9th. ValuEngine upgraded shares of Nova Measuring Instruments from a buy rating to a strong-buy rating in a report on Friday, August 11th. Finally, Stifel Nicolaus restated a buy rating and set a $29.00 price objective (up previously from $28.00) on shares of Nova Measuring Instruments in a report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $27.50.
Nova Measuring Instruments (NVMI) opened at 28.49 on Wednesday. The stock’s 50 day moving average is $25.30 and its 200 day moving average is $23.12. The company has a market cap of $787.89 million, a PE ratio of 26.04 and a beta of 0.91. Nova Measuring Instruments has a 12 month low of $11.64 and a 12 month high of $30.72.
Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. Nova Measuring Instruments had a net margin of 14.79% and a return on equity of 26.03%. The company had revenue of $56.10 million for the quarter, compared to the consensus estimate of $54.48 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue was up 57.6% compared to the same quarter last year. Equities analysts predict that Nova Measuring Instruments will post $1.79 earnings per share for the current year.
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Large investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in shares of Nova Measuring Instruments by 11.1% during the 1st quarter. UBS Group AG now owns 6,389 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 638 shares during the period. FNY Partners Fund LP bought a new position in shares of Nova Measuring Instruments during the 1st quarter worth about $120,000. Hillsdale Investment Management Inc. bought a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $148,000. Quantbot Technologies LP bought a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $169,000. Finally, GHP Investment Advisors Inc. bought a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $210,000. Institutional investors 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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