ValuEngine downgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a buy rating to a hold rating in a research note released on Monday, ValuEngine reports.

Other analysts have also recently issued reports about the company. Needham & Company LLC initiated coverage on Nova Measuring Instruments in a research note on Tuesday, April 16th. They issued a buy rating and a $33.00 price target for the company. BidaskClub raised Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Lake Street Capital set a $75.00 price target on SurModics and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Nova Measuring Instruments currently has an average rating of Hold and a consensus price target of $32.25.

Shares of NVMI stock opened at $25.11 on Monday. The company has a market cap of $711.15 million, a PE ratio of 12.81 and a beta of 1.09. The company has a 50-day moving average of $25.76. Nova Measuring Instruments has a one year low of $20.83 and a one year high of $30.46.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. The company had revenue of $56.66 million during the quarter, compared to analysts’ expectations of $55.25 million. Nova Measuring Instruments had a return on equity of 18.70% and a net margin of 19.60%. Nova Measuring Instruments’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. On average, analysts forecast that Nova Measuring Instruments will post 1.13 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of NVMI. Norges Bank acquired a new position in shares of Nova Measuring Instruments in the 4th quarter valued at approximately $8,081,000. Ibex Investors LLC grew its position in shares of Nova Measuring Instruments by 29.1% in the 4th quarter. Ibex Investors LLC now owns 581,000 shares of the semiconductor company’s stock valued at $13,235,000 after purchasing an additional 131,000 shares during the period. Jane Street Group LLC grew its position in shares of Nova Measuring Instruments by 702.6% in the 4th quarter. Jane Street Group LLC now owns 146,932 shares of the semiconductor company’s stock valued at $3,347,000 after purchasing an additional 128,626 shares during the period. Royce & Associates LP grew its position in shares of Nova Measuring Instruments by 19.4% in the 1st quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock valued at $14,108,000 after purchasing an additional 91,200 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Nova Measuring Instruments by 8.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,059,387 shares of the semiconductor company’s stock valued at $26,674,000 after purchasing an additional 80,874 shares during the period. Institutional investors and hedge funds own 52.07% of the company’s stock.

About Nova Measuring Instruments

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.

Further Reading: Price-Sales Ratio

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