Nova Measuring Instruments Ltd. (NVMI) Releases Earnings Results, Beats Expectations By $0.09 EPS
Nova Measuring Instruments Ltd. (NASDAQ:NVMI) issued its quarterly earnings results on Wednesday. The semiconductor company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.09, Briefing.com reports. Nova Measuring Instruments had a return on equity of 26.03% and a net margin of 14.79%. The business had revenue of $54.10 million for the quarter, compared to analyst estimates of $54.10 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. Nova Measuring Instruments updated its Q4 guidance to $0.34-0.42 EPS.
Shares of Nova Measuring Instruments (NVMI) traded down 20.06% on Wednesday, reaching $24.99. The company’s stock had a trading volume of 1,498,030 shares. The company has a market capitalization of $691.10 million, a price-to-earnings ratio of 22.84 and a beta of 0.91. The stock has a 50-day moving average price of $28.47 and a 200-day moving average price of $24.65. Nova Measuring Instruments has a 1-year low of $11.83 and a 1-year high of $31.69.
A number of brokerages have recently weighed in on NVMI. BidaskClub upgraded Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Nova Measuring Instruments in a research report on Thursday, October 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $29.00 target price (up previously from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, August 3rd. ValuEngine upgraded Nova Measuring Instruments from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research lowered Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.25.
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A hedge fund recently raised its stake in Nova Measuring Instruments stock. State Street Corp lifted its holdings in Nova Measuring Instruments Ltd. (NASDAQ:NVMI) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,816 shares of the semiconductor company’s stock after buying an additional 216 shares during the quarter. State Street Corp’s holdings in Nova Measuring Instruments were worth $305,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 40.63% of the company’s stock.
About Nova Measuring Instruments
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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