Nova Measuring Instruments (NASDAQ:NVMI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities analysts also recently weighed in on NVMI. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of Nova Measuring Instruments in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of Nova Measuring Instruments in a research note on Tuesday, February 13th. Zacks Investment Research downgraded shares of Nova Measuring Instruments from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Finally, ValuEngine downgraded shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $34.00.

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Shares of NVMI stock opened at $28.60 on Wednesday. Nova Measuring Instruments has a 52-week low of $16.55 and a 52-week high of $31.88. The stock has a market cap of $826.35, a PE ratio of 17.44 and a beta of 0.75.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Tuesday, February 13th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The business had revenue of $57.40 million for the quarter, compared to analyst estimates of $55.42 million. Nova Measuring Instruments had a net margin of 20.93% and a return on equity of 25.05%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. research analysts expect that Nova Measuring Instruments will post 1.9 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Nova Measuring Instruments by 174.2% in the fourth quarter. Advisor Group Inc. now owns 7,005 shares of the semiconductor company’s stock worth $182,000 after buying an additional 4,450 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Nova Measuring Instruments in the fourth quarter worth about $215,000. Russell Investments Group Ltd. purchased a new position in shares of Nova Measuring Instruments in the third quarter worth about $237,000. ARK Investment Management LLC purchased a new position in Nova Measuring Instruments during the fourth quarter worth about $220,000. Finally, Harbour Capital Advisors LLC purchased a new position in Nova Measuring Instruments during the fourth quarter worth about $272,000. 43.65% of the stock is currently owned by hedge funds and other institutional investors.

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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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