Nova Measuring Instruments (NASDAQ:NVMI) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Nova Measuring Instruments (NASDAQ:NVMI) in a report published on Tuesday morning, Briefing.com reports. The brokerage issued a buy rating and a $100.00 price target on the semiconductor company’s stock.

Other research analysts have also issued reports about the company. Citigroup raised their price target on Nova Measuring Instruments from $90.00 to $97.00 in a report on Friday. Zacks Investment Research cut Nova Measuring Instruments from a buy rating to a hold rating in a research note on Saturday. Finally, Lake Street Capital raised their target price on Nova Measuring Instruments from $68.00 to $95.00 and gave the company a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $78.29.

Shares of NVMI opened at $81.56 on Tuesday. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 50.35 and a beta of 1.06. Nova Measuring Instruments has a one year low of $25.70 and a one year high of $86.51. The stock’s fifty day moving average is $77.32 and its 200-day moving average is $63.23.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Thursday, February 18th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Nova Measuring Instruments had a return on equity of 15.91% and a net margin of 18.09%. On average, research analysts expect that Nova Measuring Instruments will post 1.83 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Standard Life Aberdeen plc raised its position in Nova Measuring Instruments by 42.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 142,300 shares of the semiconductor company’s stock valued at $7,422,000 after purchasing an additional 42,500 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in Nova Measuring Instruments in the third quarter valued at approximately $18,049,000. State of New Jersey Common Pension Fund D raised its stake in Nova Measuring Instruments by 10.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,751 shares of the semiconductor company’s stock valued at $3,845,000 after buying an additional 6,988 shares during the period. Swiss National Bank raised its stake in Nova Measuring Instruments by 1.3% in the third quarter. Swiss National Bank now owns 63,919 shares of the semiconductor company’s stock valued at $3,362,000 after buying an additional 814 shares during the period. Finally, LPL Financial LLC raised its stake in Nova Measuring Instruments by 3.4% in the third quarter. LPL Financial LLC now owns 9,096 shares of the semiconductor company’s stock valued at $474,000 after buying an additional 300 shares during the period. 56.99% of the stock is currently owned by institutional investors and hedge funds.

About Nova Measuring Instruments

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 for various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, and deposition.

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Analyst Recommendations for Nova Measuring Instruments (NASDAQ:NVMI)

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