Needham & Company Suggests Buying Nova Measuring Instruments (NVMI) Ahead of SEMICON West Show

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

Analyst, Y. Edwin Mok, said, "We recommend investors buy shares heading into next week’s SEMICON West show. Going into 2H12 and 2013, we see several growth drivers for NVMI, including 1) its high exposure to the foundry segment, which we believe will remain robust; 2) share gains at new customers; 3) an expansion of integrated and standalone OCD applications at the leading edge; and 4) adoption of the new 3D packaging product. We believe NVMI is one of the best positioned companies in the space to benefit from the increased technical challenge at the leading edge, enabling the company to continue to outperform the industry."

Mok raises FY12 EPS estimate from $0.62 to $0.66 and FY13 from $0.84 to $0.87.

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 $8.17 yesterday.

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