Nanometrics (NANO) Downgraded by ValuEngine to Sell

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ValuEngine downgraded shares of Nanometrics (NASDAQ:NANO) from a hold rating to a sell rating in a research note released on Friday.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson cut shares of Nanometrics from a buy rating to a neutral rating and set a $21.00 price objective on the stock. in a research note on Thursday, August 16th. They noted that the move was a valuation call. Benchmark reaffirmed a buy rating and issued a $43.00 price objective on shares of Nanometrics in a research note on Friday, October 5th. BidaskClub raised shares of Nanometrics from a strong sell rating to a sell rating in a research note on Wednesday, October 17th. Stifel Nicolaus raised shares of Nanometrics from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 31st. Finally, Zacks Investment Research cut shares of Nanometrics from a hold rating to a sell rating in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $34.00.

Shares of NANO traded down $1.63 during mid-day trading on Friday, hitting $28.46. 171,757 shares of the company traded hands, compared to its average volume of 188,440. Nanometrics has a one year low of $22.08 and a one year high of $48.26. The stock has a market capitalization of $728.65 million, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.80.

Nanometrics (NASDAQ:NANO) last released its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Nanometrics had a net margin of 17.32% and a return on equity of 21.49%. The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $74.43 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Nanometrics’s revenue was up 35.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nanometrics will post 2.24 EPS for the current fiscal year.

In other news, VP Greg Swyt sold 1,794 shares of Nanometrics stock in a transaction on Monday, November 26th. The shares were sold at an average price of $31.05, for a total transaction of $55,703.70. Following the transaction, the vice president now directly owns 9,884 shares of the company’s stock, valued at $306,898.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Pierre-Yves Lesaicherre sold 6,856 shares of Nanometrics stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $31.31, for a total transaction of $214,661.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,598 shares of company stock worth $299,630. Insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new position in shares of Nanometrics during the third quarter worth $128,000. Sei Investments Co. raised its holdings in shares of Nanometrics by 12,967.9% during the second quarter. Sei Investments Co. now owns 3,659 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 3,631 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Nanometrics during the third quarter worth $146,000. Advisors Preferred LLC acquired a new stake in shares of Nanometrics during the second quarter worth $167,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Nanometrics during the second quarter worth $196,000. 82.55% of the stock is currently owned by 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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