Nova Measuring Instruments Ltd. (NASDAQ:NVMI) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.50, but opened at $11.55. Nova Measuring Instruments shares last traded at $11.70, with a volume of 34,531 shares traded.

Several research analysts recently commented on NVMI shares. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, August 10th. Canaccord Genuity restated a “buy” rating and set a $14.00 target price on shares of Nova Measuring Instruments in a report on Thursday, August 4th. Finally, Needham & Company LLC restated a “buy” rating on shares of Nova Measuring Instruments in a report on Saturday, June 25th.

The stock has a market cap of $320.04 million and a PE ratio of 19.67. The stock has a 50 day moving average of $11.32 and a 200-day moving average of $10.94.

Nova Measuring Instruments (NASDAQ:NVMI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. The firm had revenue of $35.60 million for the quarter, compared to the consensus estimate of $36.02 million. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. On average, equities research analysts anticipate that Nova Measuring Instruments Ltd. will post $0.82 EPS for the current fiscal year.

An institutional investor recently raised its position in Nova Measuring Instruments stock. Royce & Associates LLC boosted its stake in Nova Measuring Instruments Ltd. (NASDAQ:NVMI) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,750 shares of the company’s stock after buying an additional 35,800 shares during the period. Royce & Associates LLC owned 0.80% of Nova Measuring Instruments worth $2,134,000 as of its most recent filing with the SEC.

Nova Measuring Instruments Ltd. designs, develops and produces integrated process control systems for use in the manufacture of semiconductors, also known as integrated circuits or chips. 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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