Needham & Company Maintains a 'Strong Buy' on Nova Measuring Instruments (NVMI); Adjusting Estimates in Conjunction With Our Updated Industry Outlook

Needham & Company maintains a 'Strong Buy' on Nova Measuring Instruments (NASDAQ: NVMI) price target lowered from $14 to $11.

Needham analyst says, "We are adjusting our estimates for NVMI, in conjunction with our updated industry outlook titled: Semiconductor Capital Equipment Update Volume 23: Picking a Bottom. Adjusting estimates. We lower our 2011 revenue/non-GAAP EPS estimates to $104MM/$0.97, and our 2012 estimates to $102MM/$0.84, reflecting a more conservative outlook due to concerns over deteriorating chip demand and the lack of visibility."

For more ratings news on Nova Measuring Instruments click here and for the rating history of Nova Measuring Instruments click here.

Shares of Nova Measuring Instruments closed at $6.48 yesterday.

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