Zacks Investment Research upgraded shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) from a hold rating to a strong-buy rating in a report released on Tuesday. Zacks Investment Research currently has $27.00 price target on the semiconductor company’s stock.
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. “
Several other research analysts have also weighed in on NVMI. Stifel Nicolaus raised shares of Nova Measuring Instruments from a hold rating to a buy rating and increased their target price for the stock from $18.00 to $25.00 in a research note on Tuesday, May 9th. Benchmark Co. increased their target price on shares of Nova Measuring Instruments from $20.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, February 15th. Finally, Needham & Company LLC increased their target price on shares of Nova Measuring Instruments from $18.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, February 14th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Nova Measuring Instruments has an average rating of Buy and a consensus target price of $22.00.
Shares of Nova Measuring Instruments (NASDAQ:NVMI) opened at 24.51 on Tuesday. The company’s 50-day moving average is $19.93 and its 200-day moving average is $15.98. The company has a market cap of $673.19 million, a price-to-earnings ratio of 33.71 and a beta of 1.07. Nova Measuring Instruments has a one year low of $10.67 and a one year high of $26.22.
Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Tuesday, May 9th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.10. The company had revenue of $54.40 million during the quarter, compared to analyst estimates of $52.30 million. Nova Measuring Instruments had a net margin of 4.19% and a return on equity of 13.22%. Nova Measuring Instruments’s revenue was up 59.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, equities analysts predict that Nova Measuring Instruments will post $1.62 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG raised its position 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 valued at $118,000 after buying an additional 638 shares during the period. FNY Partners Fund LP bought a new position in shares of Nova Measuring Instruments during the first quarter valued at $120,000. Fortaleza Asset Management Inc. bought a new position in shares of Nova Measuring Instruments during the fourth quarter valued at $132,000. Perritt Capital Management Inc. bought a new position in shares of Nova Measuring Instruments during the fourth quarter valued at $142,000. Finally, Geode Capital Management LLC raised its position in shares of Nova Measuring Instruments by 3.1% in the first quarter. Geode Capital Management LLC now owns 15,972 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 486 shares during the period. 34.35% of the stock is owned by institutional investors.
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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