Nanometrics Incorporated (NASDAQ:NANO) Receives $40.40 Consensus Target Price from Analysts

Nanometrics Incorporated (NASDAQ:NANO) has been given an average rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $40.40.

Several analysts have recently issued reports on the company. DA Davidson upgraded Nanometrics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $32.00 to $40.00 in a research note on Wednesday, May 1st. B. Riley assumed coverage on Nanometrics in a research note on Wednesday, June 19th. They issued a “buy” rating and a $41.00 price objective on the stock. ValuEngine cut Nanometrics from a “buy” rating to a “hold” rating in a research note on Wednesday. Benchmark reiterated a “buy” rating and issued a $39.00 price objective on shares of Nanometrics in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective (up from $37.00) on shares of Nanometrics in a research note on Wednesday, May 1st.

NASDAQ:NANO traded down $0.23 during trading hours on Tuesday, reaching $28.25. 189,759 shares of the stock were exchanged, compared to its average volume of 243,228. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.34 and a quick ratio of 4.01. The stock has a 50-day simple moving average of $33.34. Nanometrics has a twelve month low of $25.52 and a twelve month high of $48.26. The stock has a market cap of $707.11 million, a P/E ratio of 11.92 and a beta of 1.60.

Nanometrics (NASDAQ:NANO) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Nanometrics had a return on equity of 10.97% and a net margin of 10.58%. The company had revenue of $67.62 million for the quarter, compared to analysts’ expectations of $65.38 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was down 23.7% compared to the same quarter last year. As a group, analysts forecast that Nanometrics will post 1.38 earnings per share for the current fiscal year.

In other Nanometrics news, Director Timothy J. Stultz sold 12,014 shares of the firm’s stock in a transaction on 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 directly owns 239,263 shares in the company, valued at $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 on 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 $9,014,004.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,725 shares of company stock worth $2,129,533. Insiders own 6.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Cutler Group LP raised its stake in Nanometrics by 16,666.7% in the first quarter. Cutler Group LP now owns 1,509 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 1,500 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Nanometrics by 71.8% during the first 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 during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nanometrics by 28.6% during the first 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 during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Nanometrics by 378.5% during the fourth 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 during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Nanometrics by 154.2% during the first 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 during the last quarter. Institutional investors own 85.99% of the company’s stock.

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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Analyst Recommendations for Nanometrics (NASDAQ:NANO)

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