BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a hold rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Several other research firms also recently issued reports on NVMI. Zacks Investment Research upgraded Nova Measuring Instruments from a strong sell rating to a hold rating in a report on Wednesday, July 3rd. ValuEngine upgraded Nova Measuring Instruments from a hold rating to a buy rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a buy rating and issued a $34.00 price objective on shares of Nova Measuring Instruments in a report on Sunday, August 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Nova Measuring Instruments currently has a consensus rating of Buy and an average target price of $33.00.

Shares of Nova Measuring Instruments stock traded up $0.42 during trading hours on Thursday, hitting $31.84. The company’s stock had a trading volume of 2,135 shares, compared to its average volume of 71,799. Nova Measuring Instruments has a twelve month low of $20.83 and a twelve month high of $31.79. The firm has a fifty day moving average of $28.40 and a 200-day moving average of $26.68. The stock has a market cap of $880.78 million, a price-to-earnings ratio of 16.15 and a beta of 1.04.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The business had revenue of $51.12 million for the quarter, compared to analyst estimates of $49.90 million. Nova Measuring Instruments had a return on equity of 16.62% and a net margin of 18.21%. The company’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. Equities analysts predict that Nova Measuring Instruments will post 1.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Nova Measuring Instruments by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,086,200 shares of the semiconductor company’s stock worth $53,386,000 after purchasing an additional 78,900 shares during the period. Acadian Asset Management LLC increased its holdings in Nova Measuring Instruments by 1.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,079,889 shares of the semiconductor company’s stock worth $27,636,000 after purchasing an additional 20,502 shares during the period. Vanguard Group Inc. increased its holdings in Nova Measuring Instruments by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 704,025 shares of the semiconductor company’s stock worth $18,016,000 after purchasing an additional 5,758 shares during the period. Royce & Associates LP increased its holdings in Nova Measuring Instruments by 19.4% during the 1st quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock worth $14,108,000 after purchasing an additional 91,200 shares during the period. Finally, Bamco Inc. NY increased its holdings in Nova Measuring Instruments by 13.0% during the 2nd quarter. Bamco Inc. NY now owns 260,000 shares of the semiconductor company’s stock worth $6,653,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 56.56% 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.

Recommended Story: How are capital gains distributions different for tax-deferred account?

Receive News & Ratings for Nova Measuring Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nova Measuring Instruments and related companies with MarketBeat.com's FREE daily email newsletter.