Nova Measuring Instruments Ltd. (NASDAQ:NVMI) Short Interest Down 22.0% in July

Nova Measuring Instruments Ltd. (NASDAQ:NVMI) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 195,100 shares, a decrease of 22.0% from the June 15th total of 250,100 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 109,100 shares, the short-interest ratio is presently 1.8 days.

Large investors have recently modified their holdings of the stock. AlphaOne Investment Services LLC acquired a new stake in Nova Measuring Instruments in the 1st quarter valued at about $33,000. Financial Gravity Wealth Inc. bought a new position in Nova Measuring Instruments in the 2nd quarter valued at about $40,000. Campbell & CO Investment Adviser LLC bought a new position in Nova Measuring Instruments in the 1st quarter valued at about $309,000. Millennium Management LLC bought a new position in Nova Measuring Instruments in the 4th quarter valued at about $352,000. Finally, GHP Investment Advisors Inc. raised its holdings in Nova Measuring Instruments by 42.7% in the 1st quarter. GHP Investment Advisors Inc. now owns 15,040 shares of the semiconductor company’s stock valued at $379,000 after acquiring an additional 4,500 shares during the period. Institutional investors and hedge funds own 52.01% of the company’s stock.

NASDAQ:NVMI traded up $0.24 during mid-day trading on Monday, hitting $28.48. The stock had a trading volume of 221,358 shares, compared to its average volume of 98,449. Nova Measuring Instruments has a twelve month low of $20.83 and a twelve month high of $30.46. The firm has a market cap of $789.73 million, a PE ratio of 14.53 and a beta of 1.09. The stock has a 50 day simple moving average of $26.00.

Nova Measuring Instruments (NASDAQ:NVMI) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.11. Nova Measuring Instruments had a net margin of 19.60% and a return on equity of 18.70%. The business had revenue of $56.66 million during the quarter, compared to the consensus estimate of $55.25 million. During the same period last year, the business posted $0.54 EPS. Nova Measuring Instruments’s revenue was down 9.5% on a year-over-year basis. Analysts forecast that Nova Measuring Instruments will post 1.13 EPS for the current year.

A number of equities analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of Nova Measuring Instruments in a research note on Tuesday, April 16th. They set a “buy” rating and a $33.00 price objective for the company. BidaskClub downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. ValuEngine upgraded shares of Worldline from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Lake Street Capital set a $75.00 price objective on shares of SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average 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.

Recommended Story: What is net income?

Receive News & Ratings for Nova Measuring Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nova Measuring Instruments and related companies with MarketBeat.com's FREE daily email newsletter.