Shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.60.

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Nova Measuring Instruments from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC increased their price target on Nova Measuring Instruments from $27.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 9th. ValuEngine upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Tuesday, May 16th.

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Nova Measuring Instruments by 4.7% in the first quarter. Renaissance Technologies LLC now owns 2,168,600 shares of the semiconductor company’s stock worth $40,314,000 after buying an additional 97,300 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its stake in Nova Measuring Instruments by 14.4% in the first quarter. Menora Mivtachim Holdings LTD. now owns 686,414 shares of the semiconductor company’s stock worth $12,760,000 after buying an additional 86,630 shares during the last quarter. Vanguard Group Inc. raised its stake in Nova Measuring Instruments by 2.9% in the first quarter. Vanguard Group Inc. now owns 476,446 shares of the semiconductor company’s stock worth $8,857,000 after buying an additional 13,327 shares during the last quarter. Acadian Asset Management LLC raised its stake in Nova Measuring Instruments by 75.0% in the first quarter. Acadian Asset Management LLC now owns 326,209 shares of the semiconductor company’s stock worth $6,063,000 after buying an additional 139,764 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in Nova Measuring Instruments during the first quarter worth $5,968,000. Institutional investors and hedge funds own 37.57% of the company’s stock.

Shares of Nova Measuring Instruments (NASDAQ NVMI) opened at 22.58 on Wednesday. The firm’s 50-day moving average is $24.08 and its 200 day moving average is $18.10. Nova Measuring Instruments has a 12 month low of $10.67 and a 12 month high of $28.41. The company has a market capitalization of $620.18 million, a price-to-earnings ratio of 31.06 and a beta of 0.93.

Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.10. Nova Measuring Instruments had a return on equity of 21.37% and a net margin of 10.93%. The business had revenue of $54.40 million during the quarter, compared to the consensus estimate of $52.30 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. Equities analysts expect that Nova Measuring Instruments will post $1.62 EPS for the current year.

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About Nova Measuring Instruments

Nova Measuring Instruments Ltd. provides metrology solutions for the semiconductor manufacturing industry. The Company offers in-line Optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems, which are attached directly to wafer fabrication process equipment. Its metrology systems measure various film thickness and composition properties, as well as critical-dimension (CD) variables during various front-end and back-end of line steps in the semiconductor wafer fabrication process.

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