Nanometrics (NANO) Shares Up -3.9%

Shares of Nanometrics Incorporated (NASDAQ:NANO) shot up 3.9% during trading on Thursday . The company traded as high as $26.62 and last traded at $24.96. 135,697 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 182,682 shares. The stock had previously closed at $25.97.

A number of research firms recently commented on NANO. Benchmark reiterated a “buy” rating and issued a $33.00 target price (down from $34.00) on shares of Nanometrics in a report on Wednesday. BidaskClub downgraded shares of Nanometrics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of Nanometrics from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd.

The stock has a market capitalization of $678.20, a price-to-earnings ratio of 21.79, a PEG ratio of 1.23 and a beta of 1.65.

Nanometrics (NASDAQ:NANO) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. Nanometrics had a net margin of 11.68% and a return on equity of 12.05%. The business had revenue of $78.20 million for the quarter, compared to analyst estimates of $76.95 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. analysts expect that Nanometrics Incorporated will post 1.66 earnings per share for the current year.

Nanometrics announced that its board has initiated a share buyback plan on Wednesday, November 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Timothy J. Stultz sold 14,166 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $25.93, for a total transaction of $367,324.38. Following the sale, the chief executive officer now owns 294,817 shares in the company, valued at $7,644,604.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 14,781 shares of company stock worth $382,656 in the last 90 days. 6.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in NANO. SG Americas Securities LLC acquired a new position in Nanometrics in the 3rd quarter valued at approximately $158,000. LS Investment Advisors LLC increased its stake in Nanometrics by 36.9% in the 3rd quarter. LS Investment Advisors LLC now owns 7,824 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 2,109 shares during the period. Teacher Retirement System of Texas acquired a new position in Nanometrics in the 4th quarter valued at approximately $209,000. Teachers Retirement System of The State of Kentucky increased its stake in Nanometrics by 39.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 9,765 shares of the semiconductor company’s stock valued at $247,000 after buying an additional 2,765 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new position in Nanometrics in the 2nd quarter valued at approximately $296,000. Institutional investors and hedge funds own 83.05% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Nanometrics (NANO) Shares Up -3.9%” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://sportsperspectives.com/2018/02/10/nanometrics-nano-shares-up-3-9.html.

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.

Receive News & Ratings for Nanometrics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nanometrics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply