Shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) gapped up prior to trading on Friday . The stock had previously closed at $11.60, but opened at $11.62. Nova Measuring Instruments shares last traded at $11.78, with a volume of 40,416 shares trading hands.

Several research firms have recently weighed in on NVMI. Needham & Company LLC reiterated a “buy” rating on shares of Nova Measuring Instruments in a research note on Saturday, June 25th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective on shares of Nova Measuring Instruments in a research note on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, August 10th.

The company’s 50 day moving average price is $11.56 and its 200 day moving average price is $11.20. The firm has a market capitalization of $321.40 million, a price-to-earnings ratio of 19.75 and a beta of 1.65.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Nova Measuring Instruments had a net margin of 11.10% and a return on equity of 11.58%. The business had revenue of $35.60 million for the quarter, compared to analysts’ expectations of $36.02 million. During the same period last year, the business earned $0.20 earnings per share. The business’s quarterly revenue was down 12.3% on a year-over-year basis. Equities research analysts forecast that Nova Measuring Instruments Ltd. will post $0.82 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of NVMI. Wellington Management Group LLP boosted its position in shares of Nova Measuring Instruments by 16.6% in the first quarter. Wellington Management Group LLP now owns 1,071,666 shares of the company’s stock worth $11,156,000 after buying an additional 152,500 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Nova Measuring Instruments by 28.4% in the first quarter. Acadian Asset Management LLC now owns 162,657 shares of the company’s stock worth $1,693,000 after buying an additional 35,946 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Nova Measuring Instruments by 2.3% in the first quarter. Renaissance Technologies LLC now owns 1,908,900 shares of the company’s stock worth $19,872,000 after buying an additional 43,744 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of Nova Measuring Instruments by 21.6% in the first quarter. Spark Investment Management LLC now owns 33,200 shares of the company’s stock worth $345,000 after buying an additional 5,900 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Nova Measuring Instruments by 135.4% in the second quarter. Oppenheimer & Co. Inc. now owns 101,270 shares of the company’s stock worth $1,108,000 after buying an additional 58,255 shares during the last quarter. Institutional investors and hedge funds own 33.71% of the company’s stock.

About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops and produces integrated process control systems for use in the manufacture of semiconductors, also known as integrated circuits or chips. 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.

5 Day Chart for NASDAQ:NVMI

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