Nova Measuring Instruments (NVMI) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a strong sell rating to a sell rating in a research report released on Friday.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC raised their price objective on shares of Nova Measuring Instruments from $32.00 to $34.00 and gave the stock a buy rating in a report on Friday, June 15th. Benchmark reissued a buy rating and issued a $35.00 price objective on shares of Nova Measuring Instruments in a report on Friday, June 15th. Zacks Investment Research raised shares of Nova Measuring Instruments from a hold rating to a buy rating and set a $31.00 price objective on the stock in a report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Nova Measuring Instruments from a buy rating to a hold rating in a report on Tuesday, June 26th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. Nova Measuring Instruments has an average rating of Hold and an average target price of $33.00.

NASDAQ:NVMI traded up $0.43 on Friday, reaching $24.21. 95,186 shares of the stock traded hands, compared to its average volume of 147,429. The firm has a market cap of $734.00 million, a P/E ratio of 13.09 and a beta of 0.88. Nova Measuring Instruments has a 12 month low of $23.38 and a 12 month high of $32.00.

Nova Measuring Instruments (NASDAQ:NVMI) last released its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $61.89 million during the quarter, compared to analyst estimates of $60.25 million. Nova Measuring Instruments had a net margin of 19.35% and a return on equity of 21.94%. Nova Measuring Instruments’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Sell-side analysts anticipate that Nova Measuring Instruments will post 1.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Nova Measuring Instruments during the first quarter valued at approximately $143,000. Russell Investments Group Ltd. lifted its holdings in Nova Measuring Instruments by 437.1% during the first quarter. Russell Investments Group Ltd. now owns 111,838 shares of the semiconductor company’s stock valued at $3,035,000 after purchasing an additional 91,016 shares in the last quarter. Citadel Advisors LLC purchased a new position in Nova Measuring Instruments during the first quarter valued at approximately $276,000. UBS Group AG lifted its holdings in Nova Measuring Instruments by 154.0% during the first quarter. UBS Group AG now owns 21,384 shares of the semiconductor company’s stock valued at $580,000 after purchasing an additional 12,965 shares in the last quarter. Finally, Element Capital Management LLC purchased a new position in Nova Measuring Instruments during the first quarter valued at approximately $275,000. 45.94% of the stock is currently owned by institutional investors.

About Nova Measuring Instruments

Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel. The company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems that attach directly to wafer fabrication process equipment.

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