Nanometrics (NASDAQ:NANO) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Nanometrics (NASDAQ:NANO) from a hold rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

NANO has been the subject of several other reports. B. Riley initiated coverage on shares of Nanometrics in a research note on Wednesday, June 19th. They set a buy rating and a $41.00 target price for the company. Benchmark reaffirmed a buy rating and set a $39.00 target price on shares of Nanometrics in a research note on Wednesday, July 31st. BidaskClub raised shares of Nanometrics from a sell rating to a hold rating in a research note on Thursday. Finally, Zacks Investment Research raised shares of Nanometrics from a sell rating to a hold rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $40.00.

NANO traded down $0.54 during trading on Thursday, hitting $30.87. 135,445 shares of the company traded hands, compared to its average volume of 158,449. The company has a market cap of $765.76 million, a PE ratio of 13.03 and a beta of 1.64. The stock’s 50-day simple moving average is $29.48 and its two-hundred day simple moving average is $31.09. Nanometrics has a 1 year low of $25.52 and a 1 year high of $38.60. The company has a current ratio of 5.34, a quick ratio of 4.01 and a debt-to-equity ratio of 0.02.



Nanometrics (NASDAQ:NANO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The company had revenue of $67.62 million during the quarter, compared to analysts’ expectations of $65.38 million. Nanometrics had a net margin of 10.58% and a return on equity of 10.97%. Nanometrics’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period last year, the company posted $0.71 earnings per share. Equities analysts expect that Nanometrics will post 1.38 EPS for the current year.

In other Nanometrics news, Director Timothy J. Stultz sold 47,986 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $35.04, for a total transaction of $1,681,429.44. Following the completion of the transaction, the director now owns 257,249 shares in the company, valued at $9,014,004.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy J. Stultz sold 12,014 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $35.17, for a total transaction of $422,532.38. Following the transaction, the director now owns 239,263 shares of the company’s stock, valued at approximately $8,414,879.71. The disclosure for this sale can be found here. Insiders have sold 60,725 shares of company stock valued at $2,129,533 in the last quarter. 6.10% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cutler Group LP lifted its position in Nanometrics by 16,666.7% during the first quarter. Cutler Group LP now owns 1,509 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 1,500 shares during the last quarter. US Bancorp DE lifted its position in Nanometrics by 50.5% during the second quarter. US Bancorp DE now owns 1,619 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 543 shares during the last quarter. Penserra Capital Management LLC lifted its position in Nanometrics by 71.8% during the first quarter. Penserra Capital Management LLC now owns 2,685 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,122 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Nanometrics by 28.6% during the first quarter. Advisors Asset Management Inc. now owns 3,703 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 824 shares during the last quarter. Finally, AlphaOne Investment Services LLC bought a new stake in shares of Nanometrics in the 2nd quarter worth about $129,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

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, 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.

Further Reading: When can a hold rating present a buying opportunity?

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Analyst Recommendations for Nanometrics (NASDAQ:NANO)

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