Nova Measuring Instruments (NASDAQ:NVMI) Stock Price Crosses Above 200-Day Moving Average of $29.63

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.63 and traded as high as $35.72. Nova Measuring Instruments shares last traded at $35.72, with a volume of 3,448 shares changing hands.

NVMI has been the topic of a number of research reports. ValuEngine cut Nova Measuring Instruments from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective on shares of Nova Measuring Instruments in a report on Sunday, August 11th. Stifel Nicolaus raised their price objective on Nova Measuring Instruments from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 27th. BidaskClub cut Nova Measuring Instruments from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Lake Street Capital raised their price objective on Nova Measuring Instruments from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $36.20.

The stock has a 50 day simple moving average of $34.93 and a 200 day simple moving average of $29.63. The firm has a market capitalization of $1.01 billion, a PE ratio of 18.09 and a beta of 1.08.

Nova Measuring Instruments (NASDAQ:NVMI) last announced its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.17. The business had revenue of $52.51 million for the quarter, compared to analysts’ expectations of $50.73 million. Nova Measuring Instruments had a return on equity of 14.97% and a net margin of 16.99%. The business’s quarterly revenue was down 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Analysts anticipate that Nova Measuring Instruments Ltd. will post 1.41 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its stake in Nova Measuring Instruments by 933.3% in the 2nd quarter. US Bancorp DE now owns 1,240 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 1,120 shares during the period. Truvestments Capital LLC grew its position in shares of Nova Measuring Instruments by 48.5% in the 3rd quarter. Truvestments Capital LLC now owns 995 shares of the semiconductor company’s stock worth $32,000 after buying an additional 325 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Nova Measuring Instruments in the 2nd quarter worth approximately $40,000. Envestnet Asset Management Inc. bought a new stake in shares of Nova Measuring Instruments in the 2nd quarter worth approximately $204,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Nova Measuring Instruments in the 2nd quarter worth approximately $221,000. 62.24% of the stock is currently owned by institutional investors and hedge funds.

Nova Measuring Instruments Company Profile (NASDAQ:NVMI)

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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