Nova Measuring Instruments (NASDAQ:NVMI) Upgraded at BidaskClub

BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

NVMI has been the subject of several other reports. Lake Street Capital set a $75.00 target price on shares of SurModics and gave the company a buy rating in a research report on Thursday, May 2nd. Needham & Company LLC initiated coverage on shares of Nova Measuring Instruments in a research report on Tuesday, April 16th. They set a buy rating and a $33.00 target price for the company. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. Finally, Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $32.25.

Shares of NVMI stock opened at $26.03 on Friday. The business has a 50 day moving average of $25.75. Nova Measuring Instruments has a 52 week low of $20.83 and a 52 week high of $30.46. The company has a market capitalization of $727.93 million, a price-to-earnings ratio of 13.28 and a beta of 1.09.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.11. Nova Measuring Instruments had a net margin of 19.60% and a return on equity of 18.70%. The firm had revenue of $56.66 million during the quarter, compared to analyst estimates of $55.25 million. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, analysts forecast that Nova Measuring Instruments will post 1.13 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position in Nova Measuring Instruments by 8.3% during the first quarter. Acadian Asset Management LLC now owns 1,059,387 shares of the semiconductor company’s stock valued at $26,674,000 after buying an additional 80,874 shares during the period. Ibex Investors LLC lifted its holdings in Nova Measuring Instruments by 3.3% during the first quarter. Ibex Investors LLC now owns 600,000 shares of the semiconductor company’s stock valued at $15,108,000 after purchasing an additional 19,000 shares in the last quarter. Royce & Associates LP lifted its holdings in Nova Measuring Instruments by 19.4% during the first quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock valued at $14,108,000 after purchasing an additional 91,200 shares in the last quarter. Norges Bank purchased a new position in Nova Measuring Instruments during the fourth quarter valued at approximately $8,081,000. Finally, Jane Street Group LLC lifted its holdings in Nova Measuring Instruments by 702.6% during the fourth quarter. Jane Street Group LLC now owns 146,932 shares of the semiconductor company’s stock valued at $3,347,000 after purchasing an additional 128,626 shares in the last quarter. Institutional investors own 52.07% of the company’s stock.

About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. Its product portfolio includes integrated and stand-alone metrology platforms for dimensional, films, and material metrology measurements for process control across various semiconductor manufacturing process steps, including lithography, etch, chemical mechanical planarization, and deposition.

Recommended Story: How does a 12b-1 fee affect fund performance?

Receive News & Ratings for Nova Measuring Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nova Measuring Instruments and related companies with MarketBeat.com's FREE daily email newsletter.