BidaskClub Upgrades Nova Measuring Instruments (NASDAQ:NVMI) to Buy

BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a hold rating to a buy rating in a research note published on Friday morning, BidAskClub reports.

A number of other analysts have also commented on NVMI. ValuEngine upgraded Nova Measuring Instruments from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a buy rating and set a $34.00 target price on shares of Nova Measuring Instruments in a research report on Sunday, August 11th. Zacks Investment Research upgraded Nova Measuring Instruments from a strong sell rating to a hold rating in a research report on Wednesday, July 3rd. Finally, Lake Street Capital restated a buy rating and set a $30.00 target price (up from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $33.00.

Shares of NVMI stock opened at $28.70 on Friday. The stock has a 50-day moving average price of $27.07 and a 200 day moving average price of $26.23. The firm has a market cap of $802.60 million, a price-to-earnings ratio of 14.64 and a beta of 1.05. Nova Measuring Instruments has a 12 month low of $20.83 and a 12 month high of $30.46.



Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.06. The firm had revenue of $51.12 million during the quarter, compared to analyst estimates of $49.90 million. Nova Measuring Instruments had a return on equity of 16.62% and a net margin of 18.21%. The company’s revenue was down 17.4% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. On average, analysts expect that Nova Measuring Instruments will post 1.16 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings 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 valued at $32,000 after purchasing an additional 1,120 shares in the last quarter. AlphaOne Investment Services LLC bought a new position in shares of Nova Measuring Instruments during the 1st quarter valued at about $33,000. Financial Gravity Wealth Inc. bought a new position in shares of Nova Measuring Instruments during the 2nd quarter valued at about $40,000. Envestnet Asset Management Inc. bought a new position in shares of Nova Measuring Instruments during the 2nd quarter valued at about $204,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Nova Measuring Instruments during the 2nd quarter valued at about $221,000. Institutional investors and hedge funds own 52.75% of the company’s stock.

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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