Nova Measuring Instruments (NASDAQ:NVMI) Reaches New 12-Month High at $37.56

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $37.56 and last traded at $37.56, with a volume of 518 shares changing hands. The stock had previously closed at $37.28.

NVMI has been the topic of several analyst reports. Lake Street Capital upped their target price on shares of Nova Measuring Instruments from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Zacks Investment Research upgraded Nova Measuring Instruments from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research report on Wednesday, October 2nd. BidaskClub cut Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus raised their target price on shares of Nova Measuring Instruments from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, ValuEngine cut shares of Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.20.

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.87 and a beta of 1.08. The business’s 50-day moving average is $35.52 and its two-hundred day moving average is $30.08.

Nova Measuring Instruments (NASDAQ:NVMI) last released its quarterly earnings data on Thursday, November 7th. The semiconductor company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.17. The business had revenue of $52.51 million during the quarter, compared to analysts’ expectations of $50.73 million. Nova Measuring Instruments had a net margin of 16.99% and a return on equity of 14.97%. The firm’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities research analysts anticipate that Nova Measuring Instruments Ltd. will post 1.41 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in NVMI. Renaissance Technologies LLC raised its holdings in shares of Nova Measuring Instruments by 3.9% in the second quarter. Renaissance Technologies LLC now owns 2,086,200 shares of the semiconductor company’s stock valued at $53,386,000 after purchasing an additional 78,900 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Nova Measuring Instruments by 1.8% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,362,770 shares of the semiconductor company’s stock worth $43,295,000 after acquiring an additional 24,174 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Nova Measuring Instruments by 1.9% during the second quarter. Acadian Asset Management LLC now owns 1,079,889 shares of the semiconductor company’s stock worth $27,636,000 after acquiring an additional 20,502 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Nova Measuring Instruments by 341.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 943,200 shares of the semiconductor company’s stock valued at $29,965,000 after purchasing an additional 729,325 shares during the last quarter. Finally, Phoenix Holdings Ltd. bought a new position in Nova Measuring Instruments in the third quarter valued at approximately $25,856,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.

About Nova Measuring Instruments (NASDAQ:NVMI)

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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