Zacks: Analysts Expect Nanometrics Incorporated (NASDAQ:NANO) Will Post Quarterly Sales of $74.88 Million

Brokerages expect that Nanometrics Incorporated (NASDAQ:NANO) will announce sales of $74.88 million for the current quarter, according to Zacks. Four analysts have made estimates for Nanometrics’ earnings. The lowest sales estimate is $72.90 million and the highest is $78.00 million. Nanometrics reported sales of $76.59 million in the same quarter last year, which indicates a negative year over year growth rate of 2.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Nanometrics will report full-year sales of $297.18 million for the current financial year, with estimates ranging from $294.00 million to $298.50 million. For the next year, analysts forecast that the business will report sales of $338.75 million, with estimates ranging from $327.90 million to $347.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Nanometrics.

Nanometrics (NASDAQ:NANO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Nanometrics had a net margin of 10.58% and a return on equity of 10.97%. The business had revenue of $67.62 million for the quarter, compared to analysts’ expectations of $65.38 million. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was down 23.7% compared to the same quarter last year.

A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Nanometrics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of Nanometrics from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley began coverage on shares of Nanometrics in a research note on Wednesday, June 19th. They set a “buy” rating and a $41.00 target price on the stock. DA Davidson raised shares of Nanometrics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.00 to $40.00 in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price (up from $37.00) on shares of Nanometrics in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.00.

In other Nanometrics news, Director Timothy J. Stultz sold 12,014 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $35.17, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy J. Stultz sold 47,986 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $35.04, for a total value of $1,681,429.44. Following the completion of the sale, the director now owns 257,249 shares in the company, valued at approximately $9,014,004.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,725 shares of company stock valued at $2,129,533. 6.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cutler Group LP boosted its holdings in shares of Nanometrics by 16,666.7% in the first quarter. Cutler Group LP now owns 1,509 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 1,500 shares during the period. Penserra Capital Management LLC raised its position in shares of Nanometrics by 71.8% in the first quarter. Penserra Capital Management LLC now owns 2,685 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,122 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Nanometrics by 28.6% in the first quarter. Advisors Asset Management Inc. now owns 3,703 shares of the semiconductor company’s stock worth $114,000 after buying an additional 824 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Nanometrics by 154.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,744 shares of the semiconductor company’s stock worth $239,000 after buying an additional 4,698 shares in the last quarter. Finally, Marshall Wace North America L.P. raised its position in shares of Nanometrics by 453.3% in the first quarter. Marshall Wace North America L.P. now owns 7,802 shares of the semiconductor company’s stock worth $241,000 after buying an additional 6,392 shares in the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Nanometrics stock traded down $0.23 during midday trading on Friday, reaching $28.25. The stock had a trading volume of 198,900 shares, compared to its average volume of 220,386. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.01 and a current ratio of 5.34. Nanometrics has a 52-week low of $25.52 and a 52-week high of $48.26. The company has a market capitalization of $694.37 million, a price-to-earnings ratio of 11.92 and a beta of 1.60. The stock has a fifty day simple moving average of $33.34.

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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