BidaskClub Upgrades Nova Measuring Instruments (NASDAQ:NVMI) to Buy

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

Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a strong sell rating to a hold rating in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of Nova Measuring Instruments from a hold rating to a buy rating in a research note on Tuesday, July 23rd. Lake Street Capital restated a buy rating and issued a $30.00 target price (up from $28.00) on shares of Nova Measuring Instruments in a research note on Thursday, May 2nd. Finally, Needham & Company LLC restated a buy rating and issued a $34.00 target price on shares of Nova Measuring Instruments in a research note on Sunday, August 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $33.00.

Shares of NVMI stock traded up $0.75 on Friday, hitting $28.40. The stock had a trading volume of 68,900 shares, compared to its average volume of 148,690. The firm has a market capitalization of $780.78 million, a price-to-earnings ratio of 14.49 and a beta of 1.05. The stock’s 50 day moving average is $26.90 and its 200-day moving average is $26.20. Nova Measuring Instruments has a 52-week low of $20.83 and a 52-week high of $30.46.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $51.12 million during the quarter, compared to the consensus estimate of $49.90 million. Nova Measuring Instruments had a net margin of 18.21% and a return on equity of 16.62%. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Nova Measuring Instruments will post 1.16 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY raised its holdings in Nova Measuring Instruments by 13.0% in the second quarter. Bamco Inc. NY now owns 260,000 shares of the semiconductor company’s stock valued at $6,653,000 after acquiring an additional 30,000 shares in the last quarter. Citadel Advisors LLC raised its holdings in Nova Measuring Instruments by 367.9% in the second quarter. Citadel Advisors LLC now owns 58,187 shares of the semiconductor company’s stock valued at $1,489,000 after acquiring an additional 45,751 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Nova Measuring Instruments by 98.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 102,500 shares of the semiconductor company’s stock valued at $2,623,000 after acquiring an additional 50,971 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Nova Measuring Instruments in the second quarter valued at $221,000. Finally, Putnam Investments LLC raised its holdings in Nova Measuring Instruments by 1.5% in the second quarter. Putnam Investments LLC now owns 76,474 shares of the semiconductor company’s stock valued at $1,957,000 after acquiring an additional 1,122 shares in the last quarter. 51.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

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