Needham & Company Reiterates a 'Strong Buy' on Nova Measuring Instruments (NVMI): Outperforming the Industry

Needham & Company reiterates a 'Strong Buy' on Nova Measuring Instruments (NASDAQ: NVMI) price target of $12.00.

Analyst, Y. Edwin Mok, said, "NVMI announced orders from leading foundries at 2Xnm node totaling $12MM. We believe this announcement confirmed NVMI’s strength in the foundry space, especially at the leading edge, where customers are aggressively adding capacities. Additionally, we believe the industry is increasingly adopting OCD technology in a number etch processes, which we believe will expand the servable market. We see these as being among the drivers enabling NVMI to continue to outperform the industry; therefore, we reiterate our rating."

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 $7.87 yesterday.

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