02-25-2017: Nova Measuring Instruments, Ltd. (NVMI): Helping Manufacture of Small Evolving Micro-Chips with Measurement

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Recommendation

Nova Measuring Instruments, Ltd.

Stocks like Lam Research (reviewed on this site recently) and Nova Measuring Instruments ((NVMI) have been soaring lately. It's not just that they are hi-tech stocks, but rather has something to do with "metrology." This is a term investors should understand as it applies to the semiconductor industry. With that in mind, here are quotes from a couple of articles to help define and explain what makes Nova Measuring Instruments unique. As semiconductor wafers get smaller and smaller, measuring and associated control becomes more critical and difficult, as we go from "planar" to "3-D" versions of chips. Nova helps manufacturers maintain quality and control manufacturing operations with equipment that has found a somewhat unique niche. Credit Suisse thinks companies like this have a "blue sky" potential ceiling, and indeed NVMI share price appears to have been going straight up without stops for many months.

Is this a potential "pump and dump?" We think valuations are getting ahead of themselves with some irrational exhuberance. But we could be wrong. The "day of reckoning" will come unexpected while meanwhile NVMI plods higher and higher almost non-stop.

This stock was penalized in our review by being a foreign-based Israeli stock. The reason that withi the exception of certain large Chinese companies, foreign-based companies, particularly Israeli ones, fail to meet U.S. SEC reporting requirements, meaning that things like insider trading, executive salaries, and stock options held internally are data that is lacking entirely. In each case, we penalize that with a negative rating. This is a great company, but the financial transparency in our opinion leaves much to be desired. News consists almost entirely of new product innovations and new sizeable contracts with major semiconductor fabricators.

Institutions are net acquirers and hold relatively a small percentage of ourstanding shares as of yet. Our two most important researcher/reviewers, Market Grader and Standard & Poor's are somewhat negative on the stock although researchers overall are positive and analysts very enthusiastic. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Nova Measuring Instruments Ltd. (NVMI)                    Exchange: Nasdaq
Building 22
2nd Floor                        Sector: Technology
Ness Ziona                       Industry:Semiconductor Equipment & Materi
Israel

Nova Measuring Instruments Ltd. designs, develops, produces, and sells
process control systems used in the manufacture of semiconductors in
Israel. The company offers in-line and x-ray stand-alone metrology
systems, as well as integrated optical metrology systems that attach
directly to wafer fabrication process equipment. Its products include
thin film and optical CD process control for dimensional, films, and
material metrology measurements for process control across multiple
semiconductor manufacturing process steps, including lithography, etch,
chemical mechanical polishing, and deposition. The company-Ęs products
also comprise integrated thickness monitoring systems for chemical
mechanical polishing of thin films and layer stacks. It serves various
sectors of the integrated circuit manufacturing industry, including
logic, ASIC, foundries, and memory manufactures, as well as process
equipment manufacturers worldwide. Nova Measuring Instruments Ltd. was
founded in 1993 and is headquartered in Ness Ziona, Israel.

Last Trade:  17.80                           52-Week Range:  18.28 -   9.94
Employees:                                   Avg.Volume:     107,237 Shares

Corporate Governance:
Pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation:
 N/A.
         (A lower number means less governance risk.)

EPS:  0.60    Dividend Amount: $ 0.00          Yield:  0.00%
             Ex-Dividend Date: N/A             Payout Ratio:   0.00

Key Statistics:

    Trailing P/E:  30.05              Forward P/E (est.):  11.56
                                           Target Price:  20.67

Qrtly Stock Price Growth (yoy):  71.98%               Beta:   1.00
Qrtly S&P Index   Growth (yoy):  25.50%        Short Ratio:   0.41%
    Qrtly Revenue Growth (yoy):  23.12%         Shares Out:  27180000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:   6.20                    Debt/Equity:   0.00%
    Price/Book Value:   2.91        Operating Profit Margin:  14.06%
         Price/Sales:   2.99                  Profit Margin:   5.88%
         Market Cap:     490,140,000       Return on Equity:   5.74%
    Enterprise Value:     373,010,000      Return on Assets:   6.76%

    Operating Cash Flow:     -4,160,000
         Free Cash Flow:     -1,310,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2015  12/31/2014  12/31/2013

  Total Revenue                                148,514     120,618     111,509
  Cost of Revenue                               71,434      57,005      52,438
  Gross Profit                                  77,080      63,613      59,071

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative             24,478      17,204      17,160
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                       1,318       1,318       1,318
  Total Operating Expenses                           0           0           0

Operating Income or Loss                        11,581      16,911      12,333

Income from Continuing Operations:
  Total Other Income/Expenses Net                  643         563         693
  Earnings Before Interest & Taxes              12,224      17,474      13,026
  Interest Expense                                   0           0           0
  Income Before Taxes                           12,224      17,474      13,026
  Income Tax Expense                            -3,501      -1,178       2,511
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                 15,725      18,652      10,515

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                    15,725      18,652      10,515
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares               15,725      18,652      10,515




Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2015    12/31/2014    12/31/2013

  Net Income                                15,725        18,652        10,515

Operating Activities:
  Depreciation                               9,620         3,951         3,522
  Adjustments to Net Income                 -2,312           602         4,158
  Changes in Accounts Recv'bls              -1,959        12,381       -10,585
  Changes in Liabilities                     6,294        -4,677         6,398
  Changes in Investories                    -1,949         2,226        -1,783
  Changes in other Oper'g Acts                 370           408        -1,234

Total Cash Flow f Operations                25,789        33,543        10,991

Investing Activities:
  Capital Exenditures                       -4,373        -5,234        -4,119
  Investments                                2,005          -325        -1,845
  Other Cash Flows fr Investing             -7,353       -27,737        -4,639

Total Cash Flows from Investing             -9,721       -33,296       -10,603

Financing Activities:
  Dividends Paid                                 0             0             0
  Sale of Purchase of Stock                 -1,984        -4,140         1,191
  Net Borrowings                                 0             0             0
  Other Cash Flows fr Financing                  0             0        -4,639

Total Cash Flows from Financing             -1,984        -4,140         1,191

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.                14,084        -3,893         1,579



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2015    12/31/2014    12/31/2013
Current Assets:
  Cash & Cash Equivalents                    27,733        13,649        17,542
  Short Term Investments                     69,298       109,284        81,397
  Net Receivables                            22,586        15,708        28,084
  Inventory                                  27,683        16,107        18,118
  Other Current Assets                        2,677         2,928         3,922
  Total Current Assets                      288,573        48,392        67,666

  Long-Term Investments                       1,514         1,580         1,852
  Property, Plant & Equipt                   11,062        11,450        10,382
  Goodwill                                   20,114        20,114        20,114
  Intangible Assets                          17,906        17,906        17,906
  Accumulated Amortization                        0             0             0
  Other Assets                                  961           919           947
  Deferred LT Asset Charges                   5,735         1,654            33

Total Assets                                207,269       173,279       162,277

Current Liabilities:
  Accounts Payable                           15,334        11,568        15,599
  Current Portion LT Debt                         0             0             0
  Other Current Liabilities                  21,824        15,628        14,868
  Total Current Liabilities                  37,158        27,196         30,467

  Long Term Debt                             15,334        11,568        15,599
  Other Liabilities                               0             0             0
  Deferred LT Liab. Charges                  21,824        15,628        14,868
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                            40,485        29,661        33,613

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                   73            73            72
  Retained Earnings                          48,152        32,427        13,775
  Treasury Stock                            -11,028        -6,726        -6,726
  Capital Surplus                           123,977       118,985       114,276
  Other Stockhohlder Equity                    -114        -1,177           541
  Total Stockholder Equity                  161,060       143,582       128,664

Net Tangible Assets                         123,040       143,582       128,664



Nova Measuring Instruments Ltd. (NVMI)      [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            0.9318          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    2.4221
Price/Sales Ratio < 2.3?   0.7692          Inventory/Sales < 5%?      0.2682
Sales < $1 Billion?        3.0000          Operating Margin < 7.5%?   0.5334

Balance Sheet Tests:
Debt/Equity < 0.40?        1.0000          Long-Term Debt Service:    3.0000
LTD Being Reduced?        -3.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         3.0000          Working Capital >= 1.5?    0.1957
Leverage Ratio < 20%?      3.0000          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    1.0732
Share Equity Increase:     2.2377          Market Cap.< 1.5 Billion?  3.0000
                                           Intangibles < 3% Assets?   0.1635
Income Tests:
Profit Margin < 7.5%?      0.7840          EPS Annual Growth > 10%?   0.1186
Dividend Yield > 2.0%?     0.0000          EPS 3-yr Growth > 15?      0.1003
Enterprise Value/Revenue   3.0000          EPS Growth Consistent?     0.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.8107
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          1.8249          % Held by Insiders < 5%?   0.2530
Beta > 1.25?               0.8000          % Held by Institut. < 50?  1.5480
50 Da MA > 200 Da MA?      0.3354          % Held by Institut. > 30?  1.0767
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           0.0820
Price/Book Value < 3?      1.0449          Short % of Float > 20?     0.0100
Return on Assets > 17%?    0.3976          Average Volume > 100,000?  1.0724

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  3.0000          Positive Free Cash Flow?  -1.0000
Positive Oper. Cash Flow? -1.0000          Price to C.F.Ratio < 14?:  1.0710
                                           Cash Flow / Assets > 10%?  1.8090

NVMI   Nova Measuring Instruments Ltd.     Overall Zenith Index:      1.2396


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Financial Statements

NOVA MEASURING INSTRUMENTS LTD  (NVMI)      INCOME STATEMENT

Fiscal year ends in December.                        2011-12         2012-12         2013-12         2014-12         2015-12             TTM           

Revenue                                          102,828,000      96,168,000     111,509,000     120,618,000     148,514,000     153,712,992
Cost of revenue                                   44,832,000      45,014,000      52,438,000      57,005,000      71,434,000      85,737,000
Gross profit                                      57,996,000      51,154,000      59,071,000      63,613,000      77,080,000      67,976,000


Operating expenses
Research and development                          18,677,000      24,594,000      29,578,000      29,498,000      39,703,000      36,599,000
Sales, General and administrative                 14,602,000      15,976,000      17,160,000      17,204,000      24,478,000      28,989,000
Other operating expenses                                   0               0               0               0       1,318,000        -567,000
Total operating expenses                          33,279,000      40,570,000      46,738,000      46,702,000      65,499,000      65,021,000

Operating income                                  24,717,000      10,584,000      12,333,000      16,911,000      11,581,000       2,955,000
Other income (expense)                               901,000       1,368,000         693,000         563,000         643,000       1,210,000
Income before taxes                               25,618,000      11,952,000      13,026,000      17,474,000      12,224,000       4,165,000
Provision for income taxes                        -2,500,000         124,000       2,511,000      -1,178,000      -3,501,000      -2,276,000
Net income from continuing operations             28,118,000      11,828,000      10,515,000      18,652,000      15,725,000       6,441,000
Net income                                        28,118,000      11,828,000      10,515,000      18,652,000      15,725,000       6,441,000
Net income available to common shareholders       28,118,000      11,828,000      10,515,000      18,652,000      15,725,000       6,441,000

Earnings per share
Basic                                                   1.07            0.44            0.39            0.68            0.58            0.24 
Diluted                                                 1.04            0.43            0.38            0.67            0.57            0.24 

Weighted average shares outstanding
Basic                                             26,232,000      26,619,000      27,091,000      27,447,000      27,185,000      27,119,000
Diluted                                           26,931,000      27,277,000      27,373,000      27,807,000      27,510,000      27,400,500

____________________________________________________________________________________________________________________________________________


NOVA MEASURING INSTRUMENTS LTD  (NVMI)      BALANCE SHEET

Fiscal year ends in December.                        2011-12         2012-12         2013-12         2014-12         2015-12             

Assets

Current assets

Cash

Short-term investments                             1,582,000               0       1,845,000       1,995,000      69,298,000
Total cash                                        20,298,000      15,963,000      19,387,000      15,644,000      97,031,000

Receivables                                       13,402,000      17,362,000      27,947,000      15,566,000      19,046,000
Inventories                                        9,608,000      17,827,000      18,118,000      16,107,000      27,683,000
Deferred income taxes                              2,500,000       1,850,000         137,000       1,796,000       3,540,000
Other current assets                              67,420,000      77,588,000      83,474,000     108,563,000       2,677,000
Total current assets                             113,228,000     130,590,000     149,063,008     157,676,000     149,976,992

Non-current assets

Property, plant and equipment
Gross property, plant and equipment               17,356,000      22,348,000      22,866,000      27,430,000      32,669,000
Accumulated Depreciation                         -11,358,000     -13,688,000     -12,484,000     -15,980,000     -21,607,000
Net property, plant and equipment                  5,998,000       8,660,000      10,382,000      11,450,000      11,062,000

Equity and other investments                               0               0               0               0         750,000
Goodwill                                                   0               0               0               0      20,114,000
Intangible assets                                          0               0               0               0      17,906,000
Deferred income taxes                                      0               0               0               0       5,735,000
Prepaid pension benefit                            2,885,000       1,873,000       1,852,000       1,580,000               0
Other long-term assets                               836,000         921,000         980,000       2,573,000       1,725,000
Total non-current assets                           9,719,000      11,454,000      13,214,000      15,603,000      57,292,000

Total assets                                     122,947,000     142,044,000     162,276,992     173,279,008     207,268,992 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Accounts payable                                   8,305,000      10,819,000      15,599,000      11,568,000      14,378,000
Deferred income taxes                                      0               0               0               0         956,000
Accrued liabilities                                        0               0               0       9,261,000      11,939,000
Deferred revenues                                  2,172,000       4,775,000       3,420,000       3,022,000       5,828,000
Other current liabilities                          8,082,000       8,444,000      11,448,000       3,345,000       4,057,000
Total current liabilities                         18,559,000      24,038,000      30,467,000      27,196,000      37,158,000

Non-current liabilities
Deferred taxes liabilities                                 0               0               0               0       5,760,000
Deferred revenues                                    611,000         159,000         341,000          36,000               0
Pensions and other benefits                        3,851,000       2,806,000       2,798,000       2,465,000       2,469,000
Other long-term liabilities                           20,000         270,000           7,000               0         822,000
Total non-current liabilities                      4,482,000       3,235,000       3,146,000       2,501,000       9,051,000

Total liabilities                                 23,041,000      27,273,000      33,613,000      29,697,000      46,209,000 

Stockholders' equity

Common stock                                          72,000          72,000          72,000          73,000          73,000
Additional paid-in capital                       108,804,000     110,990,000     114,276,000     118,985,000     123,977,000
Retained earnings                                 -8,568,000       3,260,000      13,775,000      32,427,000      48,152,000
Treasury stock                                             0               0               0      -6,726,000     -11,028,000
Accumulated other comprehensive income              -402,000         449,000         541,000      -1,177,000        -114,000
Total stockholders' equity                        99,906,000     114,771,000     128,664,000     143,582,000     161,060,000
Total liabilities and stockholders' equity       122,947,000     142,044,000     162,276,992     173,279,008     207,268,992

____________________________________________________________________________________________________________________________________________


NOVA MEASURING INSTRUMENTS LTD  (NVMI)      Statement of CASH FLOW

Fiscal year ends in December. USD.                   2011-12         2012-12         2013-12         2014-12         2015-12             TTM           

Cash Flows From Operating Activities
Net income                                        28,118,000      11,828,000      10,515,000      18,652,000      15,725,000       6,441,000
Depreciation & amortization                        1,700,000       2,783,000       3,522,000       3,951,000       9,620,000       8,166,000
Amortization of debt discount/premium and is       1,435,000       1,927,000       2,095,000       2,124,000               0               0
Investments losses (gains)                                 0               0               0         175,000         -10,000               0
Deferred income taxes                             -2,500,000               0               0               0      -5,046,000      -3,472,000
Stock based compensation                                   0               0               0               0       2,674,000               0
Accounts receivable                                 -240,000      -3,960,000     -10,585,000      12,381,000      -1,959,000        -215,000
Inventory                                         -1,056,000     -10,513,000      -1,783,000       2,226,000      -1,949,000        -590,000
Accounts payable                                  -1,639,000       2,510,000               0               0       1,604,000        -535,000
Other working capital                               -760,000       2,634,000       7,079,000      -5,966,000       5,130,000      -2,567,000
Other non-cash items                                  43,000         509,000         148,000               0               0       2,847,000
Net cash provided by operating activities         25,101,000       7,718,000      10,991,000      33,543,000      25,789,000      10,075,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen      -2,307,000      -3,660,000      -4,119,000      -5,234,000      -4,373,000      -3,820,000
Acquisitions, net                                          0               0               0               0     -45,344,000               0
Purchases of investments                         -32,267,000      -8,792,000      -6,358,000        -325,000               0               0
Other investing activities                            86,000       1,722,000        -126,000     -27,737,000      39,996,000      -8,290,000
Net cash used for investing activities           -34,488,000     -10,730,000     -10,603,000     -33,296,000      -9,721,000     -12,110,000

Cash Flows From Financing Activities
Common stock repurchased                                   0               0               0      -6,726,000      -4,303,000        -938,000
Other financing activities                         2,709,000         259,000       1,191,000       2,586,000       2,319,000       1,597,000
Net cash provided by (used for) financing          2,709,000         259,000       1,191,000      -4,140,000      -1,984,000         659,000

Net change in cash                                -6,678,000      -2,753,000       1,579,000      -3,893,000      14,084,000      -1,376,000
Cash at beginning of period                       25,394,000      18,716,000      15,963,000      17,542,000      13,649,000      25,030,000
Cash at end of period                             18,716,000      15,963,000      17,542,000      13,649,000      27,733,000      23,654,000

Free Cash Flow
Operating cash flow                               25,101,000       7,718,000      10,991,000      33,543,000      25,789,000      10,075,000
Capital expenditure                               -2,307,000      -3,660,000      -4,119,000      -5,234,000      -4,373,000      -3,820,000
Free cash flow                                    22,794,000       4,058,000       6,872,000      28,309,000      21,416,000       6,255,000
____________________________________________________________________________________________________________________________________________



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Average to Current P/E Ratios
              (NVMI)     Nova Measuring Instruments Ltd

                               2012    2013    2014    2015    2016

          Annual Earnings:     0.43    0.38    0.67    0.57    0.35
Average Price During Year:     7.94    8.88   10.81   11.38   11.17

                P/E Ratio:    18.45   23.36   16.14   19.96   31.91

 Average 5-Year P/E Ratio  =  21.96
             Current Price =  18.15

Previous 5 Quarter Earnings:   0.19    0.11    0.11   -0.18    0.30

           Current Annualized (Last Four Quarters) Earnings =  .23
                                                           ________
                                 Average PE / Current PE =     0.28
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . 1 = Highest , 10 = Lowest



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Market Grader

900
901 902 903 904 905 906 907 908 909 910



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Book Value

Book Value:

Book Value



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Projected Earnings

Earnings Estimates
Earnings Estimates



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Research Reports

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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for NOVA MEASURING INSTRUMENTS:
Symbol? NVMI
Total Months Available: 134
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  11.96    9.94     12.26   10.67     17.90   11.83

RANGE   =  17.90  TO    9.94            Close =  18.03
CHANNEL =  11.96  TO   11.83           Degree =   0
Volatility =   0.72%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

2 out of 8 favorable, (negative opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer




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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

3 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings + 1
Cash Flow - 1/font>
Average to Current P/E - 1
Ratios + 1
Market Grader - 1
Intrinsic Value DCF - 1
Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts - 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity + 1
Management Reporting + 1
Short Interest + 1
Sentiment + 1
Standard & Poor's - 1
Moving Average + 1
Right Time Study + 1
MACD Histogram Divergence + 1
Val Idea - 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer - 1
Marketspace Chart + 1
Time Series Chart + 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems + 1
Total + 5
Place 1,650 shares of Nova Measuring Instruments, Inc. ( NVMI) on the Active List.