Nova Measuring Instruments (NVMI) Announces Earnings Results

Nova Measuring Instruments (NASDAQ:NVMI) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05, Morningstar.com reports. Nova Measuring Instruments had a return on equity of 26.14% and a net margin of 21.68%. The firm had revenue of $57.40 million for the quarter, compared to analysts’ expectations of $55.42 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. Nova Measuring Instruments updated its Q1 guidance to $0.34-0.45 EPS.

Shares of Nova Measuring Instruments (NASDAQ:NVMI) traded down $0.02 during mid-day trading on Tuesday, hitting $25.52. The stock had a trading volume of 460,500 shares, compared to its average volume of 187,681. The company has a market capitalization of $710.74, a PE ratio of 15.59 and a beta of 0.77. Nova Measuring Instruments has a 12 month low of $15.30 and a 12 month high of $31.88.

Several hedge funds have recently made changes to their positions in NVMI. Virtu KCG Holdings LLC bought a new stake in shares of Nova Measuring Instruments during the second quarter worth $216,000. Nationwide Fund Advisors bought a new stake in shares of Nova Measuring Instruments during the second quarter worth $216,000. ARK Investment Management LLC bought a new stake in shares of Nova Measuring Instruments during the fourth quarter worth $220,000. Russell Investments Group Ltd. bought a new stake in shares of Nova Measuring Instruments during the third quarter worth $237,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Nova Measuring Instruments during the fourth quarter worth $272,000. Institutional investors own 41.23% of the company’s stock.

A number of analysts have weighed in on NVMI shares. Stifel Nicolaus upped their price target on Nova Measuring Instruments from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Nova Measuring Instruments in a research report on Thursday, October 19th. BidaskClub cut Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, ValuEngine cut Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Nova Measuring Instruments presently has a consensus rating of “Buy” and an average price target of $32.75.

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Nova Measuring Instruments Company Profile

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.

Earnings History for Nova Measuring Instruments (NASDAQ:NVMI)

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