Shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $33.00.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Lake Street Capital restated a “buy” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, May 2nd. BidaskClub upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Nova Measuring Instruments in a research report on Sunday, August 11th. Finally, ValuEngine upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd.
A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in shares of Nova Measuring Instruments by 933.3% during the 2nd quarter. US Bancorp DE now owns 1,240 shares of the semiconductor company’s stock worth $32,000 after buying an additional 1,120 shares during the last quarter. AlphaOne Investment Services LLC acquired a new position in shares of Nova Measuring Instruments during the 1st quarter worth about $33,000. Financial Gravity Wealth Inc. acquired a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $40,000. Envestnet Asset Management Inc. acquired a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $204,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Nova Measuring Instruments during the 2nd quarter worth about $221,000. Hedge funds and other institutional investors own 51.90% of the company’s stock.
Shares of Nova Measuring Instruments stock traded up $0.75 on Friday, hitting $28.40. 68,900 shares of the company’s stock traded hands, compared to its average volume of 148,690. The firm’s 50-day moving average price is $26.90 and its two-hundred day moving average price is $26.20. The stock has a market capitalization of $780.78 million, a PE ratio of 14.49 and a beta of 1.05. Nova Measuring Instruments has a one year low of $20.83 and a one year high of $30.46.
Nova Measuring Instruments (NASDAQ:NVMI) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Nova Measuring Instruments had a net margin of 18.21% and a return on equity of 16.62%. The company had revenue of $51.12 million during the quarter, compared to analysts’ expectations of $49.90 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue for the quarter was down 17.4% compared to the same quarter last year. Research analysts expect that Nova Measuring Instruments will post 1.16 earnings per share for the current year.
Nova Measuring Instruments Company Profile
Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. Its product portfolio includes integrated and stand-alone metrology platforms for dimensional, films, and material metrology measurements for process control across various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, and deposition.
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