Nanometrics (NANO) Downgraded to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Nanometrics (NASDAQ:NANO) from a sell rating to a strong sell rating in a report issued on Tuesday.

A number of other research firms have also recently commented on NANO. DA Davidson cut Nanometrics from a buy rating to a neutral rating and set a $21.00 price objective for the company. in a research report on Thursday, August 16th. They noted that the move was a valuation call. Benchmark boosted their price objective on Nanometrics to $43.00 and gave the company a buy rating in a research report on Wednesday, August 1st. ValuEngine cut Nanometrics from a buy rating to a hold rating in a research report on Wednesday, September 12th. Finally, Zacks Investment Research cut Nanometrics from a buy rating to a hold rating in a research report on Thursday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $35.50.

Shares of NASDAQ:NANO opened at $31.50 on Tuesday. Nanometrics has a 12-month low of $22.08 and a 12-month high of $48.26. The company has a market capitalization of $905.60 million, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.36 and a beta of 1.81.

Nanometrics (NASDAQ:NANO) last announced its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. Nanometrics had a return on equity of 19.74% and a net margin of 16.55%. The company had revenue of $88.60 million during the quarter, compared to the consensus estimate of $86.53 million. During the same period in the previous year, the company posted $0.30 earnings per share. Nanometrics’s revenue for the quarter was up 37.5% on a year-over-year basis. Equities research analysts predict that Nanometrics will post 2.3 EPS for the current fiscal year.

In other news, General Counsel Janet Therese Taylor sold 2,305 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $44.78, for a total value of $103,217.90. Following the completion of the sale, the general counsel now directly owns 33,056 shares in the company, valued at $1,480,247.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy J. Stultz sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $41.95, for a total value of $1,258,500.00. Following the completion of the sale, the director now owns 281,221 shares of the company’s stock, valued at $11,797,220.95. The disclosure for this sale can be found here. Insiders sold 66,063 shares of company stock valued at $2,789,433 over the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Nanometrics by 14.3% during the third quarter. Bank of Montreal Can now owns 61,381 shares of the semiconductor company’s stock worth $2,303,000 after purchasing an additional 7,686 shares in the last quarter. Northern Trust Corp increased its position in shares of Nanometrics by 6.2% during the second quarter. Northern Trust Corp now owns 314,382 shares of the semiconductor company’s stock worth $11,132,000 after purchasing an additional 18,370 shares in the last quarter. Millennium Management LLC increased its position in shares of Nanometrics by 464.1% during the second quarter. Millennium Management LLC now owns 634,398 shares of the semiconductor company’s stock worth $22,464,000 after purchasing an additional 521,938 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Nanometrics during the second quarter worth approximately $1,293,000. Finally, Sensato Investors LLC purchased a new stake in shares of Nanometrics during the second quarter worth approximately $1,851,000. Institutional investors and hedge funds own 85.12% 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 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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