Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 250,100 shares, a growth of 48.3% from the May 30th total of 168,700 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average trading volume of 109,100 shares, the days-to-cover ratio is presently 2.3 days.

Shares of NASDAQ NVMI traded down $0.32 during midday trading on Thursday, reaching $25.11. The stock had a trading volume of 45,700 shares, compared to its average volume of 98,595. The company has a market cap of $711.15 million, a price-to-earnings ratio of 12.81 and a beta of 1.09. Nova Measuring Instruments has a twelve month low of $20.83 and a twelve month high of $30.46. The firm has a 50 day simple moving average of $25.76.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.11. The firm had revenue of $56.66 million for the quarter, compared to the consensus estimate of $55.25 million. Nova Measuring Instruments had a net margin of 19.60% and a return on equity of 18.70%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. On average, sell-side analysts expect that Nova Measuring Instruments will post 1.13 earnings per share for the current year.

NVMI has been the topic of a number of research reports. Lake Street Capital set a $75.00 target price on shares of SurModics and gave the stock a “buy” rating in a report on Thursday, May 2nd. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday. 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 target price on the stock. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $32.25.

Several hedge funds and other institutional investors have recently modified their holdings of NVMI. Norges Bank acquired a new position in shares of Nova Measuring Instruments in the 4th quarter worth approximately $8,081,000. Jane Street Group LLC lifted its position in shares of Nova Measuring Instruments by 702.6% in the 4th quarter. Jane Street Group LLC now owns 146,932 shares of the semiconductor company’s stock worth $3,347,000 after purchasing an additional 128,626 shares during the period. Royce & Associates LP lifted its position in shares of Nova Measuring Instruments by 19.4% in the 1st quarter. Royce & Associates LP now owns 560,304 shares of the semiconductor company’s stock worth $14,108,000 after purchasing an additional 91,200 shares during the period. Acadian Asset Management LLC lifted its position in shares of Nova Measuring Instruments by 8.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,059,387 shares of the semiconductor company’s stock valued at $26,674,000 after acquiring an additional 80,874 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Nova Measuring Instruments by 10.0% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 879,348 shares of the semiconductor company’s stock valued at $20,032,000 after acquiring an additional 80,000 shares during the period. Hedge funds and other institutional investors own 52.07% of the company’s stock.

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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