Brokerages Set Nanometrics Incorporated (NANO) Price Target at $32.33

Shares of Nanometrics Incorporated (NASDAQ:NANO) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.33.

A number of analysts have weighed in on the company. Zacks Investment Research lowered Nanometrics from a “buy” rating to a “hold” rating in a report on Friday, February 8th. BidaskClub lowered Nanometrics from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Benchmark restated a “buy” rating and set a $37.00 target price on shares of Nanometrics in a report on Wednesday, December 26th. Finally, ValuEngine lowered Nanometrics from a “hold” rating to a “sell” rating in a report on Friday, December 7th.

In other news, Director Timothy J. Stultz sold 30,000 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $28.68, for a total transaction of $860,400.00. Following the completion of the sale, the director now owns 243,208 shares in the company, valued at approximately $6,975,205.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy J. Stultz sold 17,667 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $30.13, for a total value of $532,306.71. Following the sale, the director now owns 253,208 shares of the company’s stock, valued at approximately $7,629,157.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,270 shares of company stock valued at $1,408,827. Company insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC increased its position in shares of Nanometrics by 64.2% in the 4th quarter. Penserra Capital Management LLC now owns 1,563 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 611 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Nanometrics by 126.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,273 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 1,268 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Nanometrics in the fourth quarter valued at about $69,000. Advisors Asset Management Inc. lifted its position in shares of Nanometrics by 68.8% in the fourth quarter. Advisors Asset Management Inc. now owns 2,879 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 1,173 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Nanometrics in the fourth quarter valued at about $106,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

NASDAQ:NANO traded down $0.24 during midday trading on Friday, hitting $29.01. The stock had a trading volume of 151,884 shares, compared to its average volume of 220,796. Nanometrics has a one year low of $24.74 and a one year high of $48.26. The stock has a market cap of $724.26 million, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.68.

Nanometrics (NASDAQ:NANO) last announced its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.14. Nanometrics had a return on equity of 20.36% and a net margin of 17.76%. The company had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $72.65 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Nanometrics’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nanometrics will post 1.27 EPS for the current fiscal year.

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 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.

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