Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 168,700 shares, an increase of 39.8% from the May 15th total of 120,700 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 87,900 shares, the days-to-cover ratio is currently 1.9 days.
NVMI has been the subject of a number of research analyst reports. BidaskClub raised Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Needham & Company LLC began coverage on Nova Measuring Instruments in a research note on Tuesday, April 16th. They set a “buy” rating and a $33.00 price objective for the company. Zacks Investment Research raised Nova Measuring Instruments from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Nova Measuring Instruments in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.25.
A number of institutional investors and hedge funds have recently bought and sold shares of NVMI. Campbell & CO Investment Adviser LLC acquired a new position in shares of Nova Measuring Instruments during the first quarter worth approximately $309,000. GHP Investment Advisors Inc. boosted its position in shares of Nova Measuring Instruments by 42.7% during the first quarter. GHP Investment Advisors Inc. now owns 15,040 shares of the semiconductor company’s stock worth $379,000 after buying an additional 4,500 shares during the period. AlphaOne Investment Services LLC acquired a new position in shares of Nova Measuring Instruments during the first quarter worth approximately $33,000. Royce & Associates LP boosted its position in shares of Nova Measuring Instruments by 19.4% during the first quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock worth $14,108,000 after buying an additional 91,200 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Nova Measuring Instruments by 8.3% during the first quarter. Acadian Asset Management LLC now owns 1,059,387 shares of the semiconductor company’s stock worth $26,674,000 after buying an additional 80,874 shares during the period. 52.07% of the stock is owned by hedge funds and other institutional investors.
NVMI traded down $0.16 on Wednesday, hitting $24.96. 460,677 shares of the company traded hands, compared to its average volume of 92,856. The stock’s 50 day moving average is $26.06. The firm has a market cap of $701.77 million, a PE ratio of 12.73 and a beta of 1.17. Nova Measuring Instruments has a 12-month low of $20.83 and a 12-month high of $30.46.
Nova Measuring Instruments (NASDAQ:NVMI) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.11. The firm had revenue of $56.66 million during the quarter, compared to the consensus estimate of $55.25 million. Nova Measuring Instruments had a return on equity of 18.70% and a net margin of 19.60%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Equities analysts forecast that Nova Measuring Instruments will post 1.13 earnings per share for the current fiscal year.
Nova Measuring Instruments Company Profile
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.
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