Nova Measuring Instruments Ltd. (NVMI) Stock Rating Reaffirmed by Needham & Company LLC

Nova Measuring Instruments Ltd. (NASDAQ:NVMI)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Thursday, October 19th. They currently have a $32.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 4.99% from the company’s previous close.

Several other equities analysts have also recently weighed in on NVMI. ValuEngine raised shares of Nova Measuring Instruments from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Wednesday, October 18th. BidaskClub cut shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, August 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.25.

Nova Measuring Instruments (NASDAQ NVMI) traded up 1.30% during mid-day trading on Thursday, hitting $30.48. 105,202 shares of the stock traded hands. Nova Measuring Instruments has a 12-month low of $11.83 and a 12-month high of $31.35. The firm has a market cap of $842.92 million, a PE ratio of 27.86 and a beta of 0.91. The stock has a 50 day moving average price of $28.08 and a 200 day moving average price of $24.42.

Nova Measuring Instruments (NASDAQ:NVMI) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $54.48 million. During the same period last year, the business earned $0.17 earnings per share. The firm’s revenue was up 57.6% on a year-over-year basis. On average, analysts expect that Nova Measuring Instruments will post $1.79 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its position in Nova Measuring Instruments by 11.1% during the first 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 acquired a new stake in shares of Nova Measuring Instruments during the first quarter worth $120,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Nova Measuring Instruments during the second quarter worth $148,000. Quantbot Technologies LP acquired a new stake in shares of Nova Measuring Instruments during the second quarter worth $169,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Nova Measuring Instruments during the second quarter worth $210,000. 40.66% of the stock is owned by hedge funds and other institutional investors.

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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