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

A number of other analysts have also recently weighed in on NVMI. Zacks Investment Research raised Nova Measuring Instruments from a strong sell rating to a hold rating in a research report on Wednesday, July 3rd. Needham & Company LLC reaffirmed a buy rating and set a $34.00 price objective on shares of Nova Measuring Instruments in a research report on Sunday, August 11th. Finally, ValuEngine raised Nova Measuring Instruments from a hold rating to a buy rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $33.00.

Nova Measuring Instruments stock traded up $0.42 during mid-day trading on Thursday, reaching $31.84. 2,135 shares of the company were exchanged, compared to its average volume of 71,799. Nova Measuring Instruments has a twelve month low of $20.83 and a twelve month high of $31.79. The firm’s 50-day simple moving average is $28.40 and its two-hundred day simple moving average is $26.68. The firm has a market cap of $880.78 million, a PE ratio of 16.15 and a beta of 1.04.

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

Several hedge funds have recently modified their holdings of NVMI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Nova Measuring Instruments by 5.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,829 shares of the semiconductor company’s stock worth $1,003,000 after buying an additional 2,019 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Nova Measuring Instruments by 8.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,059,387 shares of the semiconductor company’s stock worth $26,674,000 after buying an additional 80,874 shares in the last quarter. Royce & Associates LP raised its stake in shares of Nova Measuring Instruments by 19.4% during the 1st quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock worth $14,108,000 after buying an additional 91,200 shares in the last quarter. AlphaOne Investment Services LLC purchased a new position in shares of Nova Measuring Instruments during the 1st quarter worth approximately $33,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Nova Measuring Instruments by 42.7% during the 1st quarter. GHP Investment Advisors Inc. now owns 15,040 shares of the semiconductor company’s stock worth $379,000 after buying an additional 4,500 shares in the last quarter. 56.56% of the stock is owned by institutional investors and hedge funds.

About Nova Measuring Instruments

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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