Needham & Company Cuts Nova Measuring Instruments to Buy (NVMI)
Nova Measuring Instruments (NASDAQ: NVMI) was downgraded by analysts at Needham & Company from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. They currently have a $12.00 price target on the stock.
Separately, analysts at Sidoti initiated coverage on shares of Nova Measuring Instruments in a research note to investors on Monday, May 7th. They set a “buy” rating on the stock.
Nova Measuring Instruments traded down 0.99% on Tuesday, hitting $7.495. Nova Measuring Instruments has a 1-year low of $5.11 and a 1-year high of $11.79. The company has a market cap of $198.9 million and a price-to-earnings ratio of 9.03.
Nova Measuring Instruments last released its earnings data on Wednesday, May 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The company’s quarterly revenue was down 19.9% on a year-over-year basis. On average, analysts predict that Nova Measuring Instruments will post $0.17 earnings per share next quarter.
Nova Measuring Instruments Ltd. (Nova) is a designer, developer and producer of integrated process control metrology systems.