Zacks Investment Research cut shares of Nanometrics Incorporated (NASDAQ:NANO) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “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. The company’s materials characterization products include systems that are used to monitor the physical, optical, electrical, and material characteristics of discrete electronic industry, opto-electronic, high brightness LEDs, solar photovoltaics, compound semiconductor, strained silicon, and silicon-on-insulator devices, including composition, crystal structure, layer thickness, dopant concentration, contamination, and electron mobility. “
A number of other research analysts also recently commented on the company. BidaskClub downgraded Nanometrics from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. Benchmark Co. reissued a buy rating and set a $34.00 target price on shares of Nanometrics in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Nanometrics presently has an average rating of Buy and a consensus target price of $31.67.
Nanometrics (NASDAQ:NANO) traded down 1.30% during midday trading on Tuesday, hitting $27.41. 117,343 shares of the stock traded hands. The firm’s 50 day moving average is $27.34 and its 200-day moving average is $27.36. Nanometrics has a 12-month low of $19.78 and a 12-month high of $32.42. The stock has a market capitalization of $698.82 million, a PE ratio of 14.58 and a beta of 1.80.
Nanometrics (NASDAQ:NANO) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The company had revenue of $64.43 million during the quarter, compared to analyst estimates of $66.37 million. Nanometrics had a net margin of 19.94% and a return on equity of 11.95%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, analysts anticipate that Nanometrics will post $1.15 EPS for the current fiscal year.
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In other Nanometrics news, General Counsel Janet Therese Taylor sold 2,505 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $25.65, for a total transaction of $64,253.25. Following the completion of the transaction, the general counsel now owns 35,833 shares of the company’s stock, valued at $919,116.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Stultz sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $25.19, for a total value of $503,800.00. Following the transaction, the chief executive officer now directly owns 300,651 shares of the company’s stock, valued at approximately $7,573,398.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,738 shares of company stock valued at $1,850,540. Insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NANO. BlackRock Inc. raised its stake in Nanometrics by 81,374.7% during the first quarter. BlackRock Inc. now owns 3,091,965 shares of the semiconductor company’s stock worth $94,182,000 after acquiring an additional 3,088,170 shares in the last quarter. Hood River Capital Management LLC raised its stake in Nanometrics by 72.5% during the second quarter. Hood River Capital Management LLC now owns 880,612 shares of the semiconductor company’s stock worth $22,271,000 after acquiring an additional 370,127 shares in the last quarter. Teachers Advisors LLC raised its stake in Nanometrics by 892.7% during the second quarter. Teachers Advisors LLC now owns 396,002 shares of the semiconductor company’s stock worth $10,015,000 after acquiring an additional 356,109 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Nanometrics by 134.9% during the second quarter. TIAA CREF Investment Management LLC now owns 351,648 shares of the semiconductor company’s stock worth $8,894,000 after acquiring an additional 201,969 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Nanometrics by 23.2% during the first quarter. Renaissance Technologies LLC now owns 923,600 shares of the semiconductor company’s stock worth $28,133,000 after acquiring an additional 174,100 shares in the last quarter. 81.28% of the stock is owned by hedge funds and other institutional investors.
Nanometrics Company Profile
Nanometrics Incorporated is a provider of process control metrology and inspection systems used primarily in the fabrication of semiconductors and other solid-state devices, including sensors, optoelectronic devices, high-brightness (HB) light emitting diodes (LEDs), discretes and data storages components.
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