Nova Measuring Instruments Ltd. (NVMI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Nova Measuring Instruments Ltd. (NASDAQ:NVMI) from a hold rating to a strong-buy rating in a report published on Wednesday, October 18th. The firm currently has $35.00 price target on the semiconductor company’s stock.

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 analysts have also issued research reports about the stock. BidaskClub upgraded shares of Nova Measuring Instruments from a hold rating to a buy rating in a research report on Thursday, August 17th. ValuEngine upgraded shares of Nova Measuring Instruments from a buy rating to a strong-buy rating in a research report on Friday, August 11th. Stifel Nicolaus reiterated a buy rating and set a $29.00 target price (up previously from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, August 3rd. Finally, Needham & Company LLC reiterated a buy rating and set a $32.00 target price on shares of Nova Measuring Instruments in a research report on Friday, September 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $30.25.

Nova Measuring Instruments (NASDAQ:NVMI) traded up $0.21 on Wednesday, reaching $27.69. 448,813 shares of the company traded hands, compared to its average volume of 347,282. The company has a market capitalization of $749.80, a price-to-earnings ratio of 15.02 and a beta of 0.91. Nova Measuring Instruments has a one year low of $11.83 and a one year high of $31.69.

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Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG raised 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 purchasing an additional 638 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Nova Measuring Instruments in the first quarter valued at approximately $120,000. Hillsdale Investment Management Inc. purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $148,000. Quantbot Technologies LP purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $169,000. Finally, GHP Investment Advisors Inc. purchased a new stake in Nova Measuring Instruments in the second quarter valued at approximately $210,000. Institutional investors own 41.21% of the company’s stock.

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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