Lake Street Capital Boosts Nova Measuring Instruments (NASDAQ:NVMI) Price Target to $40.00

Nova Measuring Instruments (NASDAQ:NVMI) had its target price lifted by stock analysts at Lake Street Capital from $30.00 to $40.00 in a research note issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Lake Street Capital’s price target would indicate a potential upside of 9.59% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research report on Wednesday, October 2nd. BidaskClub downgraded Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Nova Measuring Instruments in a research report on Sunday, August 11th. ValuEngine downgraded Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their target price on Nova Measuring Instruments from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Nova Measuring Instruments currently has a consensus rating of “Buy” and a consensus target price of $36.20.

Nova Measuring Instruments stock traded up $0.45 during trading on Friday, reaching $36.50. 1,180 shares of the company were exchanged, compared to its average volume of 75,311. Nova Measuring Instruments has a 52-week low of $21.15 and a 52-week high of $36.95. The company has a market capitalization of $983.15 million, a P/E ratio of 18.62 and a beta of 1.07. The stock’s 50 day simple moving average is $32.74 and its two-hundred day simple moving average is $28.61.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.17. Nova Measuring Instruments had a return on equity of 16.62% and a net margin of 18.21%. The firm had revenue of $52.51 million for the quarter, compared to the consensus estimate of $50.73 million. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was down 17.4% compared to the same quarter last year. Equities research analysts predict that Nova Measuring Instruments will post 1.16 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of NVMI. Acadian Asset Management LLC grew its stake in Nova Measuring Instruments by 1.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,079,889 shares of the semiconductor company’s stock worth $27,636,000 after purchasing an additional 20,502 shares in the last quarter. James Investment Research Inc. raised its position in shares of Nova Measuring Instruments by 10.8% in the 3rd quarter. James Investment Research Inc. now owns 54,580 shares of the semiconductor company’s stock worth $1,734,000 after buying an additional 5,330 shares during the period. Bamco Inc. NY raised its position in shares of Nova Measuring Instruments by 13.0% in the 2nd quarter. Bamco Inc. NY now owns 260,000 shares of the semiconductor company’s stock worth $6,653,000 after buying an additional 30,000 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Nova Measuring Instruments in the 2nd quarter worth $221,000. Finally, Renaissance Technologies LLC raised its position in shares of Nova Measuring Instruments by 3.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,086,200 shares of the semiconductor company’s stock worth $53,386,000 after buying an additional 78,900 shares during the period. Hedge funds and other institutional investors own 55.94% of the company’s stock.

Nova Measuring Instruments Company Profile

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.

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