Nanometrics (NANO) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Nanometrics (NASDAQ:NANO) in a report issued on Tuesday morning, The Fly reports. The firm issued a buy rating and a $37.00 price objective on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on NANO. Zacks Investment Research raised Nanometrics from a hold rating to a buy rating and set a $34.00 price objective for the company in a report on Thursday, February 7th. BidaskClub lowered Nanometrics from a sell rating to a strong sell rating in a report on Friday, March 1st. Benchmark reissued a buy rating and issued a $36.00 price objective on shares of Nanometrics in a report on Wednesday, February 6th. Finally, ValuEngine raised Nanometrics from a sell rating to a hold rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $33.60.

Shares of Nanometrics stock opened at $31.95 on Tuesday. The company has a market cap of $766.95 million, a PE ratio of 13.48, a P/E/G ratio of 2.06 and a beta of 1.69. Nanometrics has a twelve month low of $24.74 and a twelve month high of $48.26.

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

In other Nanometrics 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 transaction, the director now directly owns 243,208 shares of the company’s stock, valued at approximately $6,975,205.44. The sale was disclosed in a filing 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 transaction, the director now directly owns 253,208 shares of the company’s stock, valued at $7,629,157.04. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NANO. Penserra Capital Management LLC boosted its stake in Nanometrics by 64.2% during the 4th quarter. Penserra Capital Management LLC now owns 1,563 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 611 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Nanometrics by 126.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,273 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 1,268 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Nanometrics during the 4th quarter valued at $69,000. Advisors Asset Management Inc. boosted its stake in Nanometrics by 68.8% during the 4th quarter. Advisors Asset Management Inc. now owns 2,879 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in Nanometrics during the 4th quarter valued at $106,000. 85.66% of the stock is owned by hedge funds and other institutional investors.

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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