Nanometrics (NANO) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Nanometrics (NASDAQ:NANO) from a hold rating to a buy rating in a research note released on Saturday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Nanometrics from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Thursday, March 8th. Benchmark reissued a buy rating and set a $33.00 price objective (down from $34.00) on shares of Nanometrics in a research note on Wednesday, February 7th. ValuEngine raised Nanometrics from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Finally, Stifel Nicolaus raised their price objective on Nanometrics from $34.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday, May 2nd. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $36.33.

Shares of Nanometrics opened at $38.45 on Friday, MarketBeat Ratings reports. Nanometrics has a 1 year low of $22.08 and a 1 year high of $38.94. The firm has a market cap of $918.61 million, a PE ratio of 22.35, a PEG ratio of 1.42 and a beta of 1.53.

Nanometrics (NASDAQ:NANO) last issued its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.23. Nanometrics had a return on equity of 16.38% and a net margin of 14.64%. The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $72.33 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. sell-side analysts predict that Nanometrics will post 2.26 earnings per share for the current year.

In other news, Director Bruce C. Rhine sold 50,000 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $35.12, for a total transaction of $1,756,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Janet Therese Taylor sold 1,133 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $26.30, for a total value of $29,797.90. Following the sale, the general counsel now directly owns 33,391 shares of the company’s stock, valued at $878,183.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,002 shares of company stock valued at $5,694,819. Corporate insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Nanometrics by 3.0% during the 4th quarter. BlackRock Inc. now owns 3,229,719 shares of the semiconductor company’s stock worth $80,486,000 after acquiring an additional 95,367 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Nanometrics by 7.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 107,583 shares of the semiconductor company’s stock worth $2,681,000 after buying an additional 7,288 shares during the period. Raymond James & Associates boosted its position in shares of Nanometrics by 171.3% in the fourth quarter. Raymond James & Associates now owns 92,343 shares of the semiconductor company’s stock worth $2,301,000 after buying an additional 58,311 shares during the period. Rhumbline Advisers boosted its position in shares of Nanometrics by 16.9% in the fourth quarter. Rhumbline Advisers now owns 57,955 shares of the semiconductor company’s stock worth $1,444,000 after buying an additional 8,374 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Nanometrics in the fourth quarter worth $209,000. 85.18% of the stock is owned by institutional investors and hedge funds.

About Nanometrics

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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