Nova Measuring Instruments Ltd. (NVMI) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, August 8th. The firm currently has $27.00 price target on the semiconductor company’s stock.

According to Zacks, “NOVA MEASURING develops, produces and markets monitoring and measurement systems for the semiconductor manufacturing industry. The company has pioneered the Integrated Metrology concept and is now expanding its activities by developing Integrated Monitoring and Process Control systems for CMP, CVD, Photolithography and Etch manufacturing processes. The company’s systems for CMP process control, delivering systems for CMP process control, delivering have measured more wafers than all other metrology companies combined. “

NVMI has been the subject of several other research reports. Stifel Nicolaus boosted their price target on shares of Nova Measuring Instruments from $25.00 to $28.00 and gave the stock a buy rating in a research note on Monday, June 26th. BidaskClub upgraded shares of Nova Measuring Instruments from a hold rating to a buy rating in a research note on Wednesday, July 12th. ValuEngine raised shares of Nova Measuring Instruments from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Nova Measuring Instruments from $27.00 to $32.00 and gave the stock a buy rating in a research report on Friday, June 9th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Nova Measuring Instruments has an average rating of Buy and a consensus target price of $27.50.

Nova Measuring Instruments (NASDAQ:NVMI) traded up 1.82% during mid-day trading on Tuesday, reaching $23.54. The company’s stock had a trading volume of 146,196 shares. Nova Measuring Instruments has a 52 week low of $11.20 and a 52 week high of $28.41. The firm has a market capitalization of $651.00 million, a price-to-earnings ratio of 21.52 and a beta of 0.84. The company’s 50-day moving average price is $23.91 and its 200 day moving average price is $20.98.

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

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A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Nova Measuring Instruments during the fourth quarter worth $4,278,000. Navellier & Associates Inc bought a new stake in shares of Nova Measuring Instruments during the first quarter worth $430,000. Westwood Management Corp IL bought a new stake in shares of Nova Measuring Instruments during the first quarter worth $409,000. Acadian Asset Management LLC boosted its stake in shares of Nova Measuring Instruments by 75.0% in the first quarter. Acadian Asset Management LLC now owns 326,209 shares of the semiconductor company’s stock worth $6,063,000 after buying an additional 139,764 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Nova Measuring Instruments during the first quarter worth $340,000. 39.36% of the stock is owned by hedge funds and other institutional investors.

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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