Nova Measuring Instruments Ltd. (NASDAQ:NVMI) Sees Significant Increase in Short Interest

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 250,100 shares, a growth of 48.3% from the May 30th total of 168,700 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 109,100 shares, the days-to-cover ratio is currently 2.3 days.

NASDAQ:NVMI traded down $0.09 on Friday, reaching $25.02. 65,683 shares of the company’s stock were exchanged, compared to its average volume of 198,299. The firm has a market capitalization of $702.20 million, a price-to-earnings ratio of 12.77 and a beta of 1.09. Nova Measuring Instruments has a 52 week low of $20.83 and a 52 week high of $30.46. The company has a fifty day moving average of $25.76.

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

A number of equities analysts have weighed in on NVMI shares. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Lake Street Capital set a $75.00 target price on shares of SurModics and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC started 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. BidaskClub upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Finally, ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.25.

Several hedge funds have recently added to or reduced their stakes in NVMI. AlphaOne Investment Services LLC bought a new position in shares of Nova Measuring Instruments in the first quarter valued at approximately $33,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Nova Measuring Instruments in the first quarter valued at approximately $309,000. Millennium Management LLC bought a new position in shares of Nova Measuring Instruments in the fourth quarter valued at approximately $352,000. GHP Investment Advisors Inc. boosted its position in shares of Nova Measuring Instruments by 42.7% in the first quarter. GHP Investment Advisors Inc. now owns 15,040 shares of the semiconductor company’s stock valued at $379,000 after acquiring an additional 4,500 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Nova Measuring Instruments in the fourth quarter valued at approximately $385,000. 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.

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