Zacks Investment Research downgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a hold rating to a sell rating in a report published on Tuesday morning.
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 also recently issued research reports about the stock. BidaskClub downgraded shares of Nova Measuring Instruments from a strong-buy rating to a buy rating in a research report on Saturday, December 2nd. Needham & Company LLC reissued a buy rating and issued a $34.00 price objective (up previously from $32.00) on shares of Nova Measuring Instruments in a research report on Tuesday, February 13th. Benchmark reissued a buy rating and issued a $32.00 price objective on shares of Nova Measuring Instruments in a research report on Wednesday, January 17th. Finally, ValuEngine downgraded shares of Nova Measuring Instruments from a buy rating to a hold rating in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $33.25.
Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Nova Measuring Instruments had a net margin of 20.93% and a return on equity of 25.05%. The firm had revenue of $57.40 million for the quarter, compared to analyst estimates of $55.42 million. During the same period in the previous year, the business earned $0.42 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. equities research analysts expect that Nova Measuring Instruments will post 1.9 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its position in shares of Nova Measuring Instruments by 174.2% in the 4th quarter. Advisor Group Inc. now owns 7,005 shares of the semiconductor company’s stock valued at $182,000 after acquiring an additional 4,450 shares during the period. Koch Industries Inc. bought a new position in shares of Nova Measuring Instruments in the 4th quarter valued at about $215,000. Nationwide Fund Advisors bought a new position in shares of Nova Measuring Instruments in the 2nd quarter valued at about $216,000. Virtu KCG Holdings LLC bought a new position in shares of Nova Measuring Instruments in the 2nd quarter valued at about $216,000. Finally, ARK Investment Management LLC bought a new position in shares of Nova Measuring Instruments in the 4th quarter valued at about $220,000. 38.80% of the stock is owned by institutional investors.
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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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