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Nova Measuring Instruments (NASDAQ:NVMI) Price Target Cut to $130.00


Nova Measuring Instruments (NASDAQ:NVMI – Get Rating) had its price target lowered by Needham & Company LLC from $150.00 to $130.00 in a research note issued on Friday, Stock Target Advisor reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 15.56% from the company’s current price.

Several other equities research analysts have also recently commented on NVMI. Zacks Investment Research cut Nova Measuring Instruments from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 5th. Benchmark raised their price target on shares of Nova Measuring Instruments from $136.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, November 17th. Finally, Bank of America boosted their price objective on shares of Nova Measuring Instruments from $150.00 to $160.00 and gave the company a “buy” rating in a report on Monday, January 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $131.29.

NASDAQ:NVMI opened at $112.50 on Friday. The firm has a market cap of $3.21 billion, a P/E ratio of 39.34, a P/E/G ratio of 0.85 and a beta of 1.07. Nova Measuring Instruments has a fifty-two week low of $76.76 and a fifty-two week high of $149.15. The firm has a 50-day simple moving average of $125.80 and a two-hundred day simple moving average of $116.06.

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Nova Measuring Instruments (NASDAQ:NVMI – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $121.52 million during the quarter, compared to the consensus estimate of $118.28 million. Nova Measuring Instruments had a net margin of 22.79% and a return on equity of 22.05%. The firm’s quarterly revenue was up 59.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. Sell-side analysts anticipate that Nova Measuring Instruments will post 3.55 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Jag Capital Management LLC purchased a new position in shares of Nova Measuring Instruments during the 4th quarter worth $261,000. Navellier & Associates Inc. raised its holdings in Nova Measuring Instruments by 6.2% in the 4th quarter. Navellier & Associates Inc. now owns 12,674 shares of the semiconductor company’s stock worth $1,857,000 after purchasing an additional 735 shares during the period. Lazard Asset Management LLC lifted its position in Nova Measuring Instruments by 23.1% during the fourth quarter. Lazard Asset Management LLC now owns 8,013 shares of the semiconductor company’s stock valued at $1,173,000 after purchasing an additional 1,505 shares in the last quarter. Brandywine Oak Private Wealth LLC bought a new stake in Nova Measuring Instruments during the fourth quarter valued at about $270,000. Finally, Meritage Portfolio Management grew its holdings in Nova Measuring Instruments by 5.1% during the fourth quarter. Meritage Portfolio Management now owns 2,702 shares of the semiconductor company’s stock valued at $396,000 after purchasing an additional 132 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

About Nova Measuring Instruments (Get Rating)

Nova Ltd. engages in the provision of metrology solutions for the semiconductor manufacturing industry. Its products and services include dimensional metrology, in-line materials metrology for semiconductor manufacturing, and software modeling. The company was founded by Giora Dishon and Moshe Finarov in May 1993 and is headquartered in Rehovot, Israel.

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