Nova Measuring Instruments (NASDAQ:NVMI) Issues Q3 Earnings Guidance

Nova Measuring Instruments (NASDAQ:NVMI) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.20-0.34 for the period, compared to the Thomson Reuters consensus estimate of $0.31. The company issued revenue guidance of $46-54 million, compared to the consensus revenue estimate of $53.00 million.

NASDAQ:NVMI opened at $26.87 on Wednesday. The stock’s 50-day simple moving average is $26.40. The company has a market cap of $792.53 million, a P/E ratio of 13.71 and a beta of 1.05. Nova Measuring Instruments has a 52 week low of $20.83 and a 52 week high of $30.46.

NVMI has been the subject of a number of analyst reports. ValuEngine raised shares of Nova Measuring Instruments from a hold rating to a buy rating in a report on Tuesday, July 23rd. Needham & Company LLC initiated coverage on shares of Nova Measuring Instruments in a report on Tuesday, April 16th. They set a buy rating and a $33.00 price objective for the company. BidaskClub raised shares of Nova Measuring Instruments from a hold rating to a buy rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of Nova Measuring Instruments from a strong sell rating to a hold rating in a report on Wednesday, July 3rd. 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 report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $32.25.

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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