Rodman & Renshaw Lowers FY11 EPS Estimate on Nova Measuring Instruments

A report from Rodman & Renshaw reiterates its Market Outperform rating and $10 price target, and lowers its FY11 EPS Estimate to $.92 on Nova Measuring Instruments NVMI. The report states, “For 4Q11, we expect revenues and non-GAAP EPS of $17.4mn/$0.05. While there is poor visibility in the near term, Nova is well positioned for the long term with several growth opportunities coming from OCD replacement market and TSV or 3D advanced packaging." NVMI closed yesterday at $6.80.