Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage currently has a $27.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.14% from the stock’s previous close.

According to Zacks, “NOVA MEASURING develops, produces and markets monitoring and measurement systems for the semiconductor manufacturing industry. The company has pioneered the Integrated Metrology concept and is now expanding its activities by developing Integrated Monitoring and Process Control systems for CMP, CVD, Photolithography and Etch manufacturing processes. The company’s systems for CMP process control, delivering systems for CMP process control, delivering have measured more wafers than all other metrology companies combined. “

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Stifel Nicolaus lifted their price target on shares of Nova Measuring Instruments from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, June 26th. Needham & Company LLC lifted their price target on shares of Nova Measuring Instruments from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Finally, ValuEngine upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.50.

Nova Measuring Instruments (NASDAQ NVMI) opened at 24.74 on Tuesday. Nova Measuring Instruments has a 12-month low of $10.94 and a 12-month high of $28.41. The firm has a 50-day moving average of $23.86 and a 200 day moving average of $20.23. The firm has a market capitalization of $684.18 million, a price-to-earnings ratio of 22.61 and a beta of 0.84.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $56.10 million during the quarter, compared to the consensus estimate of $54.48 million. Nova Measuring Instruments had a net margin of 14.79% and a return on equity of 26.03%. The company’s quarterly revenue was up 57.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts predict that Nova Measuring Instruments will post $1.79 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in Nova Measuring Instruments by 11.1% in the first quarter. UBS Group AG now owns 6,389 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 638 shares in the last quarter. FNY Partners Fund LP bought a new stake in Nova Measuring Instruments during the first quarter valued at about $120,000. GHP Investment Advisors Inc. bought a new stake in Nova Measuring Instruments during the second quarter valued at about $210,000. Insight Capital Research & Management Inc. bought a new stake in Nova Measuring Instruments during the second quarter valued at about $228,000. Finally, Trexquant Investment LP bought a new stake in Nova Measuring Instruments during the second quarter valued at about $251,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

About Nova Measuring Instruments

Nova Measuring Instruments Ltd. provides metrology solutions for the semiconductor manufacturing industry. The Company offers in-line Optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems, which are attached directly to wafer fabrication process equipment. Its metrology systems measure various film thickness and composition properties, as well as critical-dimension (CD) variables during various front-end and back-end of line steps in the semiconductor wafer fabrication process.

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