Trade Report: The Nova Measuring Instruments Ltd. (NVMI) Downgraded by Zacks Investment Research to Hold

The Nova Measuring Instruments Ltd. (NVMI) Downgraded by Zacks Investment Research to Hold

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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 research analysts have also issued reports about the stock. Canaccord Genuity reissued a “buy” rating and issued a $14.00 target price on shares of Nova Measuring Instruments in a research note on Thursday, August 4th. Needham & Company LLC reissued a “buy” rating on shares of Nova Measuring Instruments in a research note on Saturday, June 25th.

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Shares of Nova Measuring Instruments (NASDAQ:NVMI) traded down 0.34% during mid-day trading on Wednesday, hitting $11.72. The company had a trading volume of 6,619 shares. The firm has a market capitalization of $317.87 million, a price-to-earnings ratio of 19.53 and a beta of 1.52. The firm has a 50-day moving average price of $11.85 and a 200 day moving average price of $11.35. Nova Measuring Instruments has a 52-week low of $8.57 and a 52-week high of $12.26.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate 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. Nova Measuring Instruments had a net margin of 11.10% and a return on equity of 11.58%. Nova Measuring Instruments’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. Analysts expect that Nova Measuring Instruments will post $0.81 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in NVMI. Edmond DE Rothschild Holding S.A. increased its stake in shares of Nova Measuring Instruments by 24.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 12,550 shares of the company’s stock worth $130,000 after buying an additional 2,500 shares in the last quarter. Algert Global LLC raised its position in shares of Nova Measuring Instruments by 109.9% in the first quarter. Algert Global LLC now owns 22,935 shares of the company’s stock valued at $239,000 after buying an additional 12,010 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Nova Measuring Instruments by 14.2% in the second quarter. PNC Financial Services Group Inc. now owns 27,891 shares of the company’s stock valued at $305,000 after buying an additional 3,459 shares during the last quarter. Spark Investment Management LLC raised its position in shares of Nova Measuring Instruments by 21.6% in the first quarter. Spark Investment Management LLC now owns 33,200 shares of the company’s stock valued at $345,000 after buying an additional 5,900 shares during the last quarter. Finally, Ativo Capital Management LLC raised its position in shares of Nova Measuring Instruments by 100.8% in the second quarter. Ativo Capital Management LLC now owns 74,336 shares of the company’s stock valued at $813,000 after buying an additional 37,317 shares during the last quarter. Institutional investors and hedge funds own 33.71% of the company’s stock.

Nova Measuring Instruments Company Profile

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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