Nanometrics (NANO) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Nanometrics (NASDAQ:NANO) from a sell rating to a hold rating in a report published on Saturday, January 6th.

A number of other brokerages also recently commented on NANO. Benchmark reaffirmed a buy rating and issued a $34.00 price target on shares of Nanometrics in a report on Friday, October 13th. Zacks Investment Research raised shares of Nanometrics from a sell rating to a hold rating in a report on Wednesday, December 13th.

Shares of Nanometrics (NASDAQ:NANO) traded down $0.66 during trading hours on Friday, hitting $24.77. 172,952 shares of the company were exchanged, compared to its average volume of 162,124. Nanometrics has a 1 year low of $23.73 and a 1 year high of $32.42. The company has a market cap of $660.09, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75.

Nanometrics (NASDAQ:NANO) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Nanometrics had a net margin of 19.23% and a return on equity of 10.26%. The firm had revenue of $56.70 million during the quarter, compared to the consensus estimate of $56.53 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. equities research analysts predict that Nanometrics will post 1.16 EPS for the current year.

Nanometrics announced that its board has authorized a share buyback program on Wednesday, November 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, CEO Timothy J. Stultz sold 14,166 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $25.93, for a total value of $367,324.38. Following the sale, the chief executive officer now directly owns 294,817 shares of the company’s stock, valued at approximately $7,644,604.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 14,781 shares of company stock worth $382,656 over the last three months. 6.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of NANO. Hood River Capital Management LLC raised its position in Nanometrics by 72.5% in the 2nd quarter. Hood River Capital Management LLC now owns 880,612 shares of the semiconductor company’s stock worth $22,271,000 after purchasing an additional 370,127 shares during the period. Teachers Advisors LLC raised its position in Nanometrics by 892.7% in the 2nd quarter. Teachers Advisors LLC now owns 396,002 shares of the semiconductor company’s stock worth $10,015,000 after purchasing an additional 356,109 shares during the period. JPMorgan Chase & Co. raised its position in Nanometrics by 161.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 368,507 shares of the semiconductor company’s stock worth $10,539,000 after purchasing an additional 227,710 shares during the period. TIAA CREF Investment Management LLC raised its position in Nanometrics by 134.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 351,648 shares of the semiconductor company’s stock worth $8,894,000 after purchasing an additional 201,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Nanometrics by 13.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,374,528 shares of the semiconductor company’s stock worth $34,762,000 after purchasing an additional 160,595 shares during the period. 83.05% of the stock is currently owned by institutional investors.

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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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