Nova Measuring Instruments Ltd. (NASDAQ:NVMI)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $29.00 target price on the semiconductor company’s stock, up from their prior target price of $28.00. Stifel Nicolaus’ target price would indicate a potential upside of 24.14% from the company’s previous close.

Several other research analysts have also issued reports on the company. Needham & Company LLC raised their price target on Nova Measuring Instruments from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. BidaskClub upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nova Measuring Instruments has a consensus rating of “Buy” and an average target price of $24.80.

Shares of Nova Measuring Instruments (NVMI) traded up 1.70% during trading on Thursday, hitting $23.36. The company’s stock had a trading volume of 375,739 shares. The company has a market capitalization of $645.48 million, a P/E ratio of 33.37 and a beta of 0.84. The firm’s 50 day moving average is $23.86 and its 200-day moving average is $20.23. Nova Measuring Instruments has a 1-year low of $10.94 and a 1-year high of $28.41.

Nova Measuring Instruments (NASDAQ:NVMI) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.12. Nova Measuring Instruments had a return on equity of 21.37% and a net margin of 10.93%. The firm had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $54.48 million. During the same period last year, the firm posted $0.17 EPS. The business’s revenue was up 57.6% on a year-over-year basis. Analysts forecast that Nova Measuring Instruments will post $1.62 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its stake in shares of Nova Measuring Instruments by 11.1% in the first quarter. UBS Group AG now owns 6,389 shares of the semiconductor company’s stock worth $118,000 after buying an additional 638 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Nova Measuring Instruments during the third quarter worth about $119,000. FNY Partners Fund LP bought a new position in Nova Measuring Instruments during the first quarter worth about $120,000. Edmond DE Rothschild Holding S.A. boosted its position in Nova Measuring Instruments by 24.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 12,550 shares of the semiconductor company’s stock worth $130,000 after buying an additional 2,500 shares during the period. Finally, Fortaleza Asset Management Inc. bought a new position in Nova Measuring Instruments during the fourth quarter worth about $132,000. Institutional investors and hedge funds own 39.07% of the company’s stock.

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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