Municipal Employees Retirement System of Michigan boosted its stake in shares of Nanometrics Incorporated (NASDAQ:NANO) by 40.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,330 shares of the semiconductor company’s stock after purchasing an additional 3,540 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Nanometrics were worth $355,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in NANO. Dimensional Fund Advisors LP grew its position in Nanometrics by 13.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,374,528 shares of the semiconductor company’s stock worth $34,762,000 after acquiring an additional 160,595 shares in the last quarter. Vanguard Group Inc. grew its position in Nanometrics by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,316,237 shares of the semiconductor company’s stock worth $33,287,000 after acquiring an additional 37,840 shares in the last quarter. Renaissance Technologies LLC grew its position in Nanometrics by 9.5% in the second quarter. Renaissance Technologies LLC now owns 1,011,500 shares of the semiconductor company’s stock worth $25,581,000 after acquiring an additional 87,900 shares in the last quarter. Hood River Capital Management LLC grew its position in Nanometrics by 72.5% in the second quarter. Hood River Capital Management LLC now owns 880,612 shares of the semiconductor company’s stock worth $22,271,000 after acquiring an additional 370,127 shares in the last quarter. Finally, State Street Corp grew its position in Nanometrics by 26.0% in the first quarter. State Street Corp now owns 647,195 shares of the semiconductor company’s stock worth $19,712,000 after acquiring an additional 133,650 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on NANO. Benchmark reissued a “buy” rating and issued a $34.00 target price on shares of Nanometrics in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Nanometrics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub cut shares of Nanometrics from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.67.
Shares of Nanometrics Incorporated (NASDAQ NANO) opened at $24.59 on Friday. Nanometrics Incorporated has a one year low of $23.73 and a one year high of $32.42. The firm has a market cap of $639.87, a price-to-earnings ratio of 24.04, a PEG ratio of 1.79 and a beta of 1.75.
Nanometrics (NASDAQ:NANO) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Nanometrics had a net margin of 19.23% and a return on equity of 10.26%. The business had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $56.53 million. During the same period in the previous year, the company earned $0.33 earnings per share. Nanometrics’s revenue for the quarter was down 3.4% on a year-over-year basis. equities research analysts forecast that Nanometrics Incorporated will post 1.16 EPS for the current fiscal year.
Nanometrics declared that its board has approved a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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Nanometrics Company Profile
Nanometrics Incorporated is a provider of process control metrology and inspection systems used primarily in the fabrication of semiconductors and other solid-state devices, including sensors, optoelectronic devices, high-brightness (HB) light emitting diodes (LEDs), discretes and data storages components.
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