Nova Measuring Instruments (NASDAQ:NVMI) Issues Q3 Earnings Guidance

Nova Measuring Instruments (NASDAQ:NVMI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.51-0.56 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.41. The company issued revenue guidance of $68-70 million, compared to the consensus revenue estimate of $62.43 million.Nova Measuring Instruments also updated its Q3 2020
Pre-Market guidance to 0.51-0.56 EPS.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a hold rating to a buy rating and set a $61.00 price objective for the company in a report on Saturday, October 3rd. Stifel Nicolaus lowered shares of Nova Measuring Instruments from a buy rating to a hold rating and set a $48.00 price target for the company. in a report on Monday, June 22nd. Needham & Company LLC restated a buy rating and issued a $60.00 price objective on shares of Nova Measuring Instruments in a research report on Tuesday, August 4th. BidaskClub upgraded Nova Measuring Instruments from a sell rating to a hold rating in a report on Thursday, September 17th. Finally, Benchmark increased their price target on Nova Measuring Instruments from $50.00 to $63.00 and gave the stock a buy rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $55.60.

Shares of NASDAQ:NVMI opened at $56.85 on Tuesday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 39.48 and a beta of 1.05. Nova Measuring Instruments has a 12 month low of $25.70 and a 12 month high of $57.87. The company’s fifty day simple moving average is $51.57 and its 200 day simple moving average is $46.72.

Nova Measuring Instruments (NASDAQ:NVMI) last released its earnings results on Tuesday, August 4th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The firm had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $62.30 million. Nova Measuring Instruments had a return on equity of 15.12% and a net margin of 17.16%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities analysts predict that Nova Measuring Instruments will post 1.53 earnings per share for the current year.

Nova Measuring Instruments Company Profile

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. Its product portfolio includes integrated and stand-alone metrology platforms for dimensional, films, and material metrology measurements for process control across various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, and deposition.

See Also: Diversification

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