Nanometrics (NANO) Stock Rating Upgraded by ValuEngine

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Nanometrics (NASDAQ:NANO) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently commented on NANO. BidaskClub cut shares of Nanometrics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Benchmark increased their price objective on shares of Nanometrics to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. DA Davidson increased their price objective on shares of Nanometrics to $42.00 and gave the company a “buy” rating in a research note on Monday, July 2nd. Finally, Zacks Investment Research cut shares of Nanometrics from a “buy” rating to a “hold” rating in a research note on Thursday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Nanometrics has a consensus rating of “Hold” and a consensus price target of $35.50.

Shares of NANO opened at $31.50 on Friday. The stock has a market capitalization of $905.60 million, a PE ratio of 25.61, a P/E/G ratio of 1.36 and a beta of 1.81. Nanometrics has a 52-week low of $22.08 and a 52-week high of $48.26.

Nanometrics (NASDAQ:NANO) last announced its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. The business had revenue of $88.60 million during the quarter, compared to the consensus estimate of $86.53 million. Nanometrics had a net margin of 16.55% and a return on equity of 19.74%. The business’s revenue was up 37.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. As a group, analysts forecast that Nanometrics will post 2.3 earnings per share for the current fiscal year.

In other Nanometrics news, Director Bruce C. Rhine sold 3,655 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $42.65, for a total transaction of $155,885.75. Following the sale, the director now directly owns 693,418 shares of the company’s stock, valued at approximately $29,574,277.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Stultz sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $41.95, for a total transaction of $1,258,500.00. Following the sale, the director now directly owns 281,221 shares in the company, valued at $11,797,220.95. The disclosure for this sale can be found here. Insiders have sold a total of 66,063 shares of company stock worth $2,789,433 over the last ninety days. 6.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Nanometrics by 13.8% during the 2nd quarter. BlackRock Inc. now owns 3,575,112 shares of the semiconductor company’s stock worth $126,595,000 after purchasing an additional 432,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Nanometrics by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,537,671 shares of the semiconductor company’s stock worth $54,450,000 after acquiring an additional 14,027 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Nanometrics by 2.1% in the second quarter. Renaissance Technologies LLC now owns 944,910 shares of the semiconductor company’s stock worth $33,459,000 after acquiring an additional 19,610 shares during the last quarter. Millennium Management LLC boosted its position in shares of Nanometrics by 464.1% in the second quarter. Millennium Management LLC now owns 634,398 shares of the semiconductor company’s stock worth $22,464,000 after acquiring an additional 521,938 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of Nanometrics in the second quarter worth approximately $22,344,000. 85.12% of the stock is currently owned by institutional investors.

Nanometrics Company Profile

Nanometrics Incorporated provides process control metrology and inspection systems for use primarily in the fabrication of semiconductors and other solid-state devices worldwide. It offers automated metrology systems that provide optical critical dimension, thin film metrology, and wafer stress for transistor and interconnect metrology applications; and integrated metrology systems that are installed onto wafer processing equipment to provide near real-time measurements.

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