Nova Measuring Instruments (NVMI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other analysts also recently commented on NVMI. Zacks Investment Research downgraded Nova Measuring Instruments from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Benchmark restated a buy rating and issued a $32.00 target price on shares of Nova Measuring Instruments in a research note on Wednesday, January 17th. Needham & Company LLC restated a buy rating and issued a $34.00 target price (up previously from $32.00) on shares of Nova Measuring Instruments in a research note on Tuesday, February 13th. Finally, Lake Street Capital started coverage on Nova Measuring Instruments in a research note on Monday, March 26th. They issued a buy rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Nova Measuring Instruments has a consensus rating of Buy and a consensus price target of $33.80.

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Shares of NVMI stock opened at $28.66 on Friday. The stock has a market capitalization of $794.82, a PE ratio of 15.49 and a beta of 0.77. Nova Measuring Instruments has a fifty-two week low of $17.09 and a fifty-two week high of $31.88.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $57.40 million for the quarter, compared to analyst estimates of $55.42 million. Nova Measuring Instruments had a return on equity of 25.05% and a net margin of 20.93%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. sell-side analysts anticipate that Nova Measuring Instruments will post 1.9 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Nova Measuring Instruments by 174.2% in the fourth quarter. Advisor Group Inc. now owns 7,005 shares of the semiconductor company’s stock worth $182,000 after buying an additional 4,450 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Nova Measuring Instruments in the fourth quarter worth about $215,000. ARK Investment Management LLC purchased a new stake in shares of Nova Measuring Instruments in the fourth quarter worth about $220,000. Russell Investments Group Ltd. purchased a new stake in shares of Nova Measuring Instruments in the third quarter worth about $237,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Nova Measuring Instruments in the fourth quarter worth about $272,000. Hedge funds and other institutional investors own 44.01% of the company’s stock.

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About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. The company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment.

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