Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “NOVA MEASURING develops, produces and markets monitoring and measurement systems for the semiconductor manufacturing industry. The company has pioneered the Integrated Metrology concept and is now expanding its activities by developing Integrated Monitoring and Process Control systems for CMP, CVD, Photolithography and Etch manufacturing processes. The company’s systems for CMP process control, delivering systems for CMP process control, delivering have measured more wafers than all other metrology companies combined. “

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Nova Measuring Instruments in a report on Thursday, August 3rd. Needham & Company LLC upped their price target on shares of Nova Measuring Instruments from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Finally, ValuEngine lowered shares of Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $27.50.

Nova Measuring Instruments (NASDAQ:NVMI) opened at 28.13 on Wednesday. The firm has a market capitalization of $777.94 million, a P/E ratio of 25.71 and a beta of 0.91. The stock has a 50 day moving average price of $24.88 and a 200 day moving average price of $22.96. Nova Measuring Instruments has a one year low of $11.64 and a one year high of $30.72.

Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.12. Nova Measuring Instruments had a net margin of 14.79% and a return on equity of 26.03%. The business had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $54.48 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Nova Measuring Instruments’s revenue was up 57.6% compared to the same quarter last year. On average, equities analysts predict that Nova Measuring Instruments will post $1.79 EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in NVMI. UBS Group AG boosted its stake in Nova Measuring Instruments by 11.1% in the first quarter. UBS Group AG now owns 6,389 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 638 shares in the last quarter. FNY Partners Fund LP bought a new position in Nova Measuring Instruments in the first quarter valued at about $120,000. Hillsdale Investment Management Inc. bought a new position in Nova Measuring Instruments in the second quarter valued at about $148,000. Quantbot Technologies LP bought a new position in Nova Measuring Instruments in the second quarter valued at about $169,000. Finally, GHP Investment Advisors Inc. bought a new position in Nova Measuring Instruments in the second quarter valued at about $210,000. Institutional investors and hedge funds own 39.85% 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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