Nova Measuring Instruments (NASDAQ:NVMI) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Nova Measuring Instruments (NASDAQ:NVMI) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.17, Briefing.com reports. The company had revenue of $52.51 million for the quarter, compared to the consensus estimate of $50.73 million. Nova Measuring Instruments had a return on equity of 16.62% and a net margin of 18.21%. The firm’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. Nova Measuring Instruments updated its Q4 guidance to $0.40-0.50 EPS.

NVMI stock opened at $36.27 on Friday. Nova Measuring Instruments has a 12-month low of $21.15 and a 12-month high of $36.95. The stock’s 50 day simple moving average is $32.83 and its 200 day simple moving average is $28.64. The stock has a market capitalization of $983.15 million, a PE ratio of 18.51 and a beta of 1.07.

Several analysts recently weighed in on NVMI shares. Stifel Nicolaus upped their price target on Nova Measuring Instruments from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Lake Street Capital upped their price target on Nova Measuring Instruments from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub downgraded Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. ValuEngine downgraded Nova Measuring Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Benchmark upped their price target on Nova Measuring Instruments from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.20.

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.

See Also: How to Invest in Marijuana Stocks

Earnings History for Nova Measuring Instruments (NASDAQ:NVMI)

Receive News & Ratings for Nova Measuring Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nova Measuring Instruments and related companies with MarketBeat.com's FREE daily email newsletter.