Needham & Company Reiterates a 'Strong Buy' on Nova Measuring Instruments (NVMI); Needham Growth Conference Recap: Investing for the Growth Ahead

Needham & Company reiterates a 'Strong Buy' on Nova Measuring Instruments (NASDAQ: NVMI) price target of $10.00.

Needham analyst says, "NVMI’s presentation at the Needham Growth Conference increased our confidence in the company's long-term growth prospect. Our thesis on NVMI remains: 1) NVMI is well positioned to leverage increased spending at the leading foundries; 2) transiting to the next nodes in logic and foundries will drive growth in NVMI’s business; 3) increasing number of applications for optical metrology will continue to drive above-average growth; and 4) new 3D packaging product holds good potential. Given NVMI’s track record of developing new applications to expand its servable market, we believe increasing investment will drive long-term growth, despite limiting earnings this year."

For an analyst ratings summary and ratings history on Nova Measuring Instruments click here. For more ratings news on Nova Measuring Instruments click here.

Shares of Nova Measuring Instruments closed at $8.03 yesterday.

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