ValuEngine Lowers Nanometrics (NASDAQ:NANO) to Hold

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

A number of other research analysts also recently weighed in on NANO. Needham & Company LLC reissued a buy rating and set a $42.00 target price (up from $37.00) on shares of Nanometrics in a research report on Wednesday, May 1st. B. Riley assumed coverage on shares of Nanometrics in a research report on Wednesday, June 19th. They set a buy rating and a $41.00 target price for the company. Benchmark reissued a buy rating and set a $39.00 target price on shares of Nanometrics in a research report on Wednesday. BidaskClub raised shares of Nanometrics from a sell rating to a hold rating in a research report on Wednesday, July 24th. Finally, DA Davidson raised shares of Nanometrics from a neutral rating to a buy rating and increased their target price for the company from $32.00 to $40.00 in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Nanometrics presently has a consensus rating of Buy and a consensus target price of $40.00.

Shares of Nanometrics stock traded down $0.01 on Thursday, reaching $30.83. 235,588 shares of the company traded hands, compared to its average volume of 220,598. Nanometrics has a 52 week low of $25.52 and a 52 week high of $48.26. The business has a 50 day moving average of $33.87. The stock has a market cap of $756.51 million, a price-to-earnings ratio of 13.01, a PEG ratio of 2.08 and a beta of 1.65. The company has a quick ratio of 3.98, a current ratio of 5.24 and a debt-to-equity ratio of 0.03.

Nanometrics (NASDAQ:NANO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Nanometrics had a net margin of 14.30% and a return on equity of 15.43%. The firm had revenue of $67.62 million during the quarter, compared to the consensus estimate of $65.38 million. During the same period in the prior year, the firm earned $0.71 EPS. The company’s revenue was down 23.7% compared to the same quarter last year. Equities research analysts predict that Nanometrics will post 1.38 EPS for the current year.

In related news, Director Timothy J. Stultz sold 12,014 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $35.17, for a total value of $422,532.38. Following the completion of the transaction, the director now directly owns 239,263 shares of the company’s stock, valued at approximately $8,414,879.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy J. Stultz sold 47,986 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 257,249 shares of the company’s stock, valued at $9,014,004.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,725 shares of company stock valued at $2,129,533. 6.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP lifted its stake in Nanometrics by 16,666.7% in the 1st quarter. Cutler Group LP now owns 1,509 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 1,500 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Nanometrics by 71.8% in the 1st quarter. Penserra Capital Management LLC now owns 2,685 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,122 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Nanometrics by 28.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,703 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 824 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Nanometrics by 378.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,010 shares of the semiconductor company’s stock worth $219,000 after purchasing an additional 6,336 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Nanometrics by 154.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,744 shares of the semiconductor company’s stock worth $239,000 after purchasing an additional 4,698 shares in the last quarter. 86.19% of the stock is 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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