Nova Measuring Instruments (NVMI) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Nova Measuring Instruments (NASDAQ:NVMI) announced its earnings results on Thursday. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04, Morningstar.com reports. The business had revenue of $63.60 million for the quarter, compared to the consensus estimate of $61.53 million. Nova Measuring Instruments had a return on equity of 21.94% and a net margin of 19.35%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Nova Measuring Instruments updated its Q4 2018 guidance to $0.35-0.46 EPS and its Q4 guidance to $0.35-0.46 EPS.

NASDAQ NVMI traded down $0.96 during mid-day trading on Friday, reaching $24.57. 176,483 shares of the company’s stock traded hands, compared to its average volume of 129,855. Nova Measuring Instruments has a 1-year low of $20.83 and a 1-year high of $32.00. The firm has a market cap of $629.39 million, a PE ratio of 13.28 and a beta of 1.07.

NVMI has been the topic of several analyst reports. BidaskClub downgraded Nova Measuring Instruments from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 11th. ValuEngine upgraded Nova Measuring Instruments from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of Nova Measuring Instruments in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Nova Measuring Instruments presently has a consensus rating of “Buy” and a consensus target price of $33.25.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its stake in Nova Measuring Instruments by 31.9% during the 2nd quarter. Northern Trust Corp now owns 12,608 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 3,046 shares in the last quarter. Smith Asset Management Group LP grew its stake in Nova Measuring Instruments by 144.6% during the 2nd quarter. Smith Asset Management Group LP now owns 8,694 shares of the semiconductor company’s stock valued at $237,000 after purchasing an additional 5,140 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Nova Measuring Instruments during the 1st quarter valued at approximately $143,000. Tower Research Capital LLC TRC grew its stake in Nova Measuring Instruments by 2,999.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,198 shares of the semiconductor company’s stock valued at $169,000 after purchasing an additional 5,998 shares in the last quarter. Finally, Swiss National Bank grew its stake in Nova Measuring Instruments by 14.3% during the 2nd quarter. Swiss National Bank now owns 48,571 shares of the semiconductor company’s stock valued at $1,329,000 after purchasing an additional 6,065 shares in the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.

About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. The company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment.

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Earnings History for Nova Measuring Instruments (NASDAQ:NVMI)

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