Nova Measuring Instruments (NASDAQ:NVMI) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Nova Measuring Instruments (NASDAQ:NVMI) from a hold rating to a buy rating in a report published on Friday, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. Lake Street Capital reaffirmed a buy rating and issued a $30.00 price target (up from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, May 2nd. ValuEngine raised Nova Measuring Instruments from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Needham & Company LLC started coverage on Nova Measuring Instruments in a research report on Tuesday, April 16th. They issued a buy rating and a $33.00 price target on the stock. Finally, Zacks Investment Research raised Nova Measuring Instruments from a strong sell rating to a hold rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $32.25.

Shares of NASDAQ:NVMI traded down $1.34 during midday trading on Friday, hitting $27.00. The company’s stock had a trading volume of 1,820 shares, compared to its average volume of 119,946. The firm has a market capitalization of $769.46 million, a PE ratio of 13.89 and a beta of 1.04. The stock’s 50 day moving average is $26.29. Nova Measuring Instruments has a fifty-two week low of $20.83 and a fifty-two week high of $30.46.

Hedge funds have recently added to or reduced their stakes in the stock. AlphaOne Investment Services LLC acquired a new stake in Nova Measuring Instruments during the first quarter worth about $33,000. Financial Gravity Wealth Inc. acquired a new stake in Nova Measuring Instruments during the second quarter worth about $40,000. Envestnet Asset Management Inc. acquired a new stake in Nova Measuring Instruments during the second quarter worth about $204,000. Eagle Ridge Investment Management acquired a new stake in Nova Measuring Instruments during the second quarter worth about $276,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Nova Measuring Instruments during the first quarter worth about $309,000. 52.01% of the stock is currently owned by institutional investors and hedge funds.

About Nova Measuring Instruments

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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