Nova Measuring Instruments Ltd. (NASDAQ:NVMI) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 235,700 shares, an increase of 20.8% from the June 30th total of 195,100 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 128,900 shares, the short-interest ratio is currently 1.8 days.
Nova Measuring Instruments stock traded up $0.65 during mid-day trading on Tuesday, hitting $28.61. 4,401 shares of the company traded hands, compared to its average volume of 140,345. Nova Measuring Instruments has a one year low of $20.83 and a one year high of $30.46. The firm has a market capitalization of $785.82 million, a PE ratio of 14.47 and a beta of 1.05. The business’s fifty day moving average price is $26.68.
Nova Measuring Instruments (NASDAQ:NVMI) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Nova Measuring Instruments had a net margin of 18.21% and a return on equity of 16.62%. The business had revenue of $51.12 million during the quarter, compared to analyst estimates of $49.90 million. During the same period in the previous year, the business posted $0.46 earnings per share. Nova Measuring Instruments’s revenue for the quarter was down 17.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Nova Measuring Instruments will post 1.13 earnings per share for the current fiscal year.
Several equities analysts recently commented on NVMI shares. BidaskClub raised shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of Nova Measuring Instruments in a research report on Sunday. ValuEngine upgraded shares of Nova Measuring Instruments from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Nova Measuring Instruments from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Lake Street Capital reiterated a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Nova Measuring Instruments in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $33.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Nova Measuring Instruments by 3.9% during the second quarter. Renaissance Technologies LLC now owns 2,086,200 shares of the semiconductor company’s stock worth $53,386,000 after acquiring an additional 78,900 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Nova Measuring Instruments during the second quarter worth about $5,473,000. Acadian Asset Management LLC lifted its holdings in shares of Nova Measuring Instruments by 1.9% during the second quarter. Acadian Asset Management LLC now owns 1,079,889 shares of the semiconductor company’s stock worth $27,636,000 after purchasing an additional 20,502 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Nova Measuring Instruments by 28.7% during the second quarter. JPMorgan Chase & Co. now owns 32,483 shares of the semiconductor company’s stock worth $832,000 after purchasing an additional 7,248 shares during the period. Finally, Axiom International Investors LLC DE acquired a new stake in shares of Nova Measuring Instruments during the second quarter worth about $932,000. Hedge funds and other institutional investors own 51.90% of the company’s stock.
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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