Nanometrics (NASDAQ:NANO) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of Nanometrics (NASDAQ:NANO) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.

NANO has been the topic of several other research reports. ValuEngine downgraded shares of Nanometrics from a buy rating to a hold rating in a report on Wednesday, August 7th. B. Riley initiated coverage on shares of Nanometrics in a report on Wednesday, June 19th. They set a buy rating and a $41.00 price target on the stock. Zacks Investment Research raised shares of Nanometrics from a sell rating to a hold rating in a report on Thursday. Finally, Benchmark reaffirmed a buy rating and set a $39.00 price target on shares of Nanometrics in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $40.00.

Shares of NANO traded down $0.55 on Thursday, reaching $30.86. The company’s stock had a trading volume of 286,024 shares, compared to its average volume of 161,151. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.34 and a quick ratio of 4.01. The stock has a market capitalization of $779.86 million, a P/E ratio of 22.44 and a beta of 1.64. The stock’s 50 day simple moving average is $29.38 and its two-hundred day simple moving average is $31.10. Nanometrics has a 12-month low of $25.52 and a 12-month high of $38.60.

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

In other news, Director Timothy J. Stultz sold 47,986 shares of Nanometrics stock in a transaction that occurred 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 sale, 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 SEC, which is available at this link. Also, Director Timothy J. Stultz sold 12,014 shares of Nanometrics stock in a transaction that occurred 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 sale, the director now owns 239,263 shares in the company, 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 worth $2,129,533 in the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Cutler Group LP raised its position in shares of 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 buying an additional 1,500 shares during the last quarter. US Bancorp DE raised its position in shares of 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 buying an additional 543 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of 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 buying an additional 1,122 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 824 shares during the last quarter. Finally, AlphaOne Investment Services LLC bought a new stake in shares of Nanometrics during the second quarter valued at approximately $129,000. Hedge funds and other institutional investors 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: Hold Rating

Analyst Recommendations for Nanometrics (NASDAQ:NANO)

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