Nanometrics (NANO) Lifted to Buy at ValuEngine

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Nanometrics (NASDAQ:NANO) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

NANO has been the subject of a number of other research reports. Zacks Investment Research upgraded Nanometrics from a “sell” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, January 2nd. DA Davidson upgraded Nanometrics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $40.00 in a report on Wednesday. Benchmark restated a “buy” rating and issued a $36.00 price target on shares of Nanometrics in a report on Wednesday, February 6th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price target (up previously from $37.00) on shares of Nanometrics in a report on Wednesday. Finally, BidaskClub cut Nanometrics from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.40.

NASDAQ NANO traded down $0.04 on Wednesday, reaching $34.07. The company had a trading volume of 5,792 shares, compared to its average volume of 196,365. The stock has a market cap of $730.89 million, a PE ratio of 14.38, a P/E/G ratio of 1.96 and a beta of 1.63. Nanometrics has a 1 year low of $25.52 and a 1 year high of $48.26.

Nanometrics (NASDAQ:NANO) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The company had revenue of $67.10 million during the quarter, compared to analysts’ expectations of $64.82 million. Nanometrics had a return on equity of 15.76% and a net margin of 14.30%. The firm’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. Equities analysts anticipate that Nanometrics will post 1.27 EPS for the current fiscal year.

In other Nanometrics news, Director Timothy J. Stultz sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $28.68, for a total value of $860,400.00. Following the transaction, the director now directly owns 243,208 shares of the company’s stock, valued at approximately $6,975,205.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Stultz sold 17,667 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $30.13, for a total value of $532,306.71. Following the completion of the transaction, the director now directly owns 253,208 shares in the company, valued at $7,629,157.04. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NANO. Fisher Asset Management LLC raised its position in shares of Nanometrics by 63.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,028,299 shares of the semiconductor company’s stock valued at $28,103,000 after purchasing an additional 397,677 shares in the last quarter. Vanguard Group Inc raised its position in shares of Nanometrics by 14.5% during the 3rd quarter. Vanguard Group Inc now owns 1,722,179 shares of the semiconductor company’s stock valued at $64,616,000 after acquiring an additional 218,259 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nanometrics by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,722,179 shares of the semiconductor company’s stock valued at $64,616,000 after acquiring an additional 218,259 shares in the last quarter. LSV Asset Management raised its position in shares of Nanometrics by 167.4% during the 4th quarter. LSV Asset Management now owns 287,147 shares of the semiconductor company’s stock valued at $7,847,000 after acquiring an additional 179,747 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Nanometrics by 93.2% during the 4th quarter. California Public Employees Retirement System now owns 132,110 shares of the semiconductor company’s stock valued at $3,611,000 after acquiring an additional 63,737 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors.

About Nanometrics

Nanometrics Incorporated provides process control metrology and inspection systems for use primarily in the fabrication of semiconductors and other solid-state devices, and industrial and scientific applications worldwide. The company offers automated metrology systems that provide optical critical dimension, thin film metrology, and wafer stress metrology 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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