Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Monday.

A number of other research firms also recently weighed in on NVMI. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Nova Measuring Instruments in a research report on Friday, September 1st. BidaskClub raised Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $27.50.

Shares of Nova Measuring Instruments (NVMI) opened at 28.13 on Monday. The company has a market cap of $777.94 million, a price-to-earnings ratio of 25.71 and a beta of 0.91. Nova Measuring Instruments has a 12-month low of $11.64 and a 12-month high of $30.72. The stock has a 50 day moving average of $24.88 and a 200 day moving average of $22.96.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.12. Nova Measuring Instruments had a net margin of 14.79% and a return on equity of 26.03%. The firm had revenue of $56.10 million for the quarter, compared to analyst estimates of $54.48 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue was up 57.6% compared to the same quarter last year. On average, equities analysts expect that Nova Measuring Instruments will post $1.79 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in Nova Measuring Instruments by 125.9% in the 2nd quarter. Acadian Asset Management LLC now owns 736,869 shares of the semiconductor company’s stock valued at $16,278,000 after buying an additional 410,660 shares during the period. Systematic Financial Management LP acquired a new position in shares of Nova Measuring Instruments in the 1st quarter valued at approximately $5,968,000. OxFORD Asset Management LLP acquired a new position in shares of Nova Measuring Instruments in the 2nd quarter valued at approximately $2,719,000. PDT Partners LLC bought a new stake in shares of Nova Measuring Instruments during the 2nd quarter worth approximately $2,312,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Nova Measuring Instruments by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,168,600 shares of the semiconductor company’s stock worth $40,314,000 after acquiring an additional 97,300 shares during the period. 39.85% of the stock is currently owned by hedge funds and other institutional investors.

Nova Measuring Instruments Company Profile

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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