Nova Measuring Instruments’ (NVMI) “Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Nova Measuring Instruments (NASDAQ:NVMI) in a research note released on Wednesday morning. The brokerage currently has a $32.00 target price on the semiconductor company’s stock.

Several other research firms have also issued reports on NVMI. BidaskClub lowered shares of Nova Measuring Instruments from a buy rating to a hold rating in a report on Thursday, January 11th. Needham & Company LLC reissued a buy rating and issued a $32.00 target price on shares of Nova Measuring Instruments in a report on Thursday, October 19th. Zacks Investment Research raised shares of Nova Measuring Instruments from a hold rating to a strong-buy rating and set a $35.00 target price for the company in a report on Wednesday, October 18th. ValuEngine lowered shares of Nova Measuring Instruments from a strong-buy rating to a buy rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of Nova Measuring Instruments from $29.00 to $32.00 and gave the stock a buy rating in a report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Nova Measuring Instruments currently has a consensus rating of Buy and an average target price of $32.75.

Nova Measuring Instruments (NASDAQ NVMI) traded up $0.17 during midday trading on Wednesday, hitting $28.04. 181,819 shares of the stock traded hands, compared to its average volume of 136,695. Nova Measuring Instruments has a 12-month low of $13.96 and a 12-month high of $31.88. The stock has a market cap of $755.57, a price-to-earnings ratio of 17.10 and a beta of 0.85.

Nova Measuring Instruments (NASDAQ:NVMI) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Nova Measuring Instruments had a net margin of 21.68% and a return on equity of 26.14%. sell-side analysts anticipate that Nova Measuring Instruments will post 1.79 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Nova Measuring Instruments by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 516,856 shares of the semiconductor company’s stock worth $11,417,000 after acquiring an additional 40,410 shares in the last quarter. Citadel Advisors LLC boosted its stake in Nova Measuring Instruments by 46.1% in the 3rd quarter. Citadel Advisors LLC now owns 42,611 shares of the semiconductor company’s stock worth $1,198,000 after purchasing an additional 13,449 shares during the period. Menora Mivtachim Holdings LTD. boosted its stake in Nova Measuring Instruments by 22.4% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 892,831 shares of the semiconductor company’s stock worth $25,097,000 after purchasing an additional 163,538 shares during the period. State of Tennessee Treasury Department boosted its stake in Nova Measuring Instruments by 73.3% in the 3rd quarter. State of Tennessee Treasury Department now owns 46,390 shares of the semiconductor company’s stock worth $1,304,000 after purchasing an additional 19,621 shares during the period. Finally, Insight Capital Research & Management Inc. boosted its stake in Nova Measuring Instruments by 391.3% in the 3rd quarter. Insight Capital Research & Management Inc. now owns 50,706 shares of the semiconductor company’s stock worth $1,425,000 after purchasing an additional 40,386 shares during the period. 37.25% of the stock is owned by institutional investors.

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Nova Measuring Instruments Company Profile

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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