Nova Measuring Instruments (NVMI) Given “Buy” Rating at Needham & Company LLC

Nova Measuring Instruments (NASDAQ:NVMI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Tuesday. They presently have a $34.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 34.23% from the company’s current price.

Several other equities research analysts have also commented on the stock. Benchmark restated a “buy” rating and issued a $32.00 price target on shares of Nova Measuring Instruments in a report on Wednesday, January 17th. BidaskClub lowered shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research lowered shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine lowered shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a report on Monday, December 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Nova Measuring Instruments from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.25.

Nova Measuring Instruments (NVMI) traded down $0.19 during trading hours on Tuesday, hitting $25.33. 275,632 shares of the stock traded hands, compared to its average volume of 189,900. Nova Measuring Instruments has a twelve month low of $15.30 and a twelve month high of $31.88. The company has a market cap of $701.60, a price-to-earnings ratio of 15.45 and a beta of 0.77.

Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Nova Measuring Instruments had a net margin of 21.68% and a return on equity of 26.14%. The business had revenue of $57.40 million during the quarter, compared to analyst estimates of $55.42 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. analysts expect that Nova Measuring Instruments will post 1.79 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Koch Industries Inc. purchased a new position in shares of Nova Measuring Instruments in the 4th quarter worth approximately $215,000. Nationwide Fund Advisors purchased a new position in shares of Nova Measuring Instruments in the 2nd quarter worth approximately $216,000. Virtu KCG Holdings LLC purchased a new position in shares of Nova Measuring Instruments in the 2nd quarter worth approximately $216,000. ARK Investment Management LLC purchased a new position in shares of Nova Measuring Instruments in the 4th quarter worth approximately $220,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Nova Measuring Instruments in the 3rd quarter worth approximately $237,000. 41.23% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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