Nova Measuring Instruments (NVMI) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a buy rating to a hold rating in a research note published on Friday.

NVMI has been the subject of a number of other research reports. Benchmark restated a buy rating and set a $35.00 price objective on shares of Nova Measuring Instruments in a report on Monday, March 19th. Zacks Investment Research cut Nova Measuring Instruments from a buy rating to a hold rating in a report on Wednesday, January 3rd. Lake Street Capital started coverage on Nova Measuring Instruments in a report on Monday, March 26th. They set a buy rating and a $33.00 price objective for the company. Finally, Needham & Company LLC reiterated a buy rating and issued a $34.00 target price (up from $32.00) on shares of Nova Measuring Instruments in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $33.80.

NVMI traded up $0.05 during trading hours on Friday, reaching $27.06. 114,814 shares of the company’s stock traded hands, compared to its average volume of 113,992. Nova Measuring Instruments has a 52-week low of $18.28 and a 52-week high of $31.88. The stock has a market cap of $753.53, a P/E ratio of 14.63 and a beta of 0.77.

Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.05. Nova Measuring Instruments had a return on equity of 25.05% and a net margin of 20.93%. The company had revenue of $57.40 million during the quarter, compared to analysts’ expectations of $55.42 million. During the same quarter in the previous year, the business earned $0.42 EPS. Nova Measuring Instruments’s revenue was up 14.3% compared to the same quarter last year. sell-side analysts anticipate that Nova Measuring Instruments will post 1.9 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Nova Measuring Instruments by 1.6% in the 2nd quarter. State Street Corp now owns 13,816 shares of the semiconductor company’s stock worth $305,000 after buying an additional 216 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Nova Measuring Instruments by 14.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 19,482 shares of the semiconductor company’s stock worth $505,000 after buying an additional 2,387 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of Nova Measuring Instruments by 7.5% in the 4th quarter. State of Tennessee Treasury Department now owns 49,882 shares of the semiconductor company’s stock worth $1,292,000 after buying an additional 3,492 shares during the period. Advisor Group Inc. lifted its holdings in shares of Nova Measuring Instruments by 174.2% in the 4th 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 during the period. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Nova Measuring Instruments by 18.0% in the 4th quarter. Eagle Global Advisors LLC now owns 32,800 shares of the semiconductor company’s stock worth $850,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 44.01% of the company’s stock.

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About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. The company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment.

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