Shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) hit a new 52-week high on Friday . The company traded as high as $11.98 and last traded at $11.90, with a volume of 43,130 shares traded. The stock had previously closed at $11.80.

A number of brokerages have recently weighed in on NVMI. Canaccord Genuity reaffirmed a “buy” rating on shares of Nova Measuring Instruments in a research note on Monday, July 11th. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, August 10th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Nova Measuring Instruments in a report on Saturday, June 25th.

The company has a 50 day moving average price of $11.32 and a 200-day moving average price of $10.94. The firm has a market cap of $321.80 million and a price-to-earnings ratio of 19.775.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $35.60 million for the quarter, compared to analyst estimates of $36.02 million. During the same quarter last year, the business earned $0.20 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Analysts predict that Nova Measuring Instruments Ltd. will post $0.82 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Nova Measuring Instruments stock. Royce & Associates LLC boosted its position in Nova Measuring Instruments Ltd. (NASDAQ:NVMI) by 19.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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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