Nova Measuring Instruments (NASDAQ:NVMI) Shares Gap Up to $101.41

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) gapped up before the market opened on Friday . The stock had previously closed at $101.41, but opened at $103.86. Nova Measuring Instruments shares last traded at $104.12, with a volume of 300 shares.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Nova Measuring Instruments from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. Bank of America lifted their target price on shares of Nova Measuring Instruments from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 17th. Barclays lifted their target price on shares of Nova Measuring Instruments from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, September 17th. Zacks Investment Research downgraded shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, October 6th. Finally, Lake Street Capital lifted their target price on shares of Nova Measuring Instruments from $100.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $111.29.

The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 1.17 and a beta of 1.12. The business’s fifty day simple moving average is $100.58 and its 200 day simple moving average is $98.07.

Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings results on Thursday, August 5th. The semiconductor company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.17. The business had revenue of $97.75 million during the quarter, compared to analysts’ expectations of $88.38 million. Nova Measuring Instruments had a net margin of 20.78% and a return on equity of 18.88%. The business’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. As a group, sell-side analysts expect that Nova Measuring Instruments Ltd. will post 3.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of NVMI. Liberty Wealth Management LLC grew its holdings in shares of Nova Measuring Instruments by 9,867.2% during the second quarter. Liberty Wealth Management LLC now owns 6,379 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 6,315 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Nova Measuring Instruments during the second quarter valued at about $111,000. Geneos Wealth Management Inc. acquired a new position in shares of Nova Measuring Instruments during the first quarter valued at about $117,000. Royal Bank of Canada grew its holdings in shares of Nova Measuring Instruments by 26.7% during the second quarter. Royal Bank of Canada now owns 1,187 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 250 shares during the last quarter. Finally, Amundi Asset Management US Inc. acquired a new position in shares of Nova Measuring Instruments during the first quarter valued at about $148,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

About Nova Measuring Instruments (NASDAQ:NVMI)

Nova Ltd. engages in the provision of metrology solutions for the semiconductor manufacturing industry. Its products and services include dimensional metrology, in-line materials metrology for semiconductor manufacturing, and software modeling. The company was founded by Giora Dishon and Moshe Finarov in May 1993 and is headquartered in Rehovot, Israel.

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