Nova Measuring Instruments (NASDAQ:NVMI) PT Raised to $65.00 at Benchmark

Nova Measuring Instruments (NASDAQ:NVMI) had its target price increased by Benchmark from $63.00 to $65.00 in a research note published on Wednesday morning, AnalystRatings.net reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research raised Nova Measuring Instruments from a hold rating to a buy rating and set a $61.00 price target for the company in a research report on Saturday, October 3rd. Stifel Nicolaus lowered Nova Measuring Instruments from a buy rating to a hold rating and set a $48.00 price objective for the company. in a report on Monday, June 22nd. Needham & Company LLC reissued a buy rating and set a $60.00 price objective on shares of Nova Measuring Instruments in a report on Tuesday, August 4th. Finally, BidaskClub raised Nova Measuring Instruments from a sell rating to a hold rating in a report on Thursday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $56.00.

Shares of NVMI opened at $56.47 on Wednesday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 39.22 and a beta of 1.05. The stock has a 50 day moving average of $51.86 and a 200 day moving average of $47.23. Nova Measuring Instruments has a 12 month low of $25.70 and a 12 month high of $59.40.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $62.60 million during the quarter, compared to the consensus estimate of $62.30 million. Nova Measuring Instruments had a return on equity of 15.12% and a net margin of 17.16%. Nova Measuring Instruments’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. Sell-side analysts anticipate that Nova Measuring Instruments will post 1.53 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC grew its holdings in Nova Measuring Instruments by 806.5% during the second quarter. Truvestments Capital LLC now owns 2,946 shares of the semiconductor company’s stock valued at $141,000 after purchasing an additional 2,621 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Nova Measuring Instruments in the second quarter worth $244,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nova Measuring Instruments by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,669 shares of the semiconductor company’s stock worth $275,000 after acquiring an additional 687 shares during the period. Caxton Associates LP bought a new position in shares of Nova Measuring Instruments in the first quarter worth $297,000. Finally, Sigma Planning Corp bought a new position in shares of Nova Measuring Instruments in the second quarter worth $305,000. 59.27% of the stock is owned by institutional investors and hedge funds.

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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