Analysts Anticipate Nanometrics Incorporated (NASDAQ:NANO) Will Announce Quarterly Sales of $62.23 Million
Brokerages forecast that Nanometrics Incorporated (NASDAQ:NANO) will report sales of $62.23 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nanometrics’ earnings. The lowest sales estimate is $62.00 million and the highest is $62.60 million. Nanometrics posted sales of $58.71 million in the same quarter last year, which suggests a positive year over year growth rate of 6%. The firm is expected to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that Nanometrics will report full year sales of $62.23 million for the current year, with estimates ranging from $259.70 million to $260.40 million. For the next fiscal year, analysts forecast that the business will report sales of $286.93 million per share, with estimates ranging from $283.80 million to $290.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Nanometrics.
Nanometrics (NASDAQ:NANO) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by $0.01. Nanometrics had a return on equity of 11.95% and a net margin of 19.94%. The business had revenue of $64.43 million during the quarter, compared to the consensus estimate of $66.37 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. Nanometrics’s quarterly revenue was up 15.5% compared to the same quarter last year.
NANO has been the subject of a number of analyst reports. Benchmark Co. reissued a “buy” rating and set a $34.00 price objective (up previously from $30.00) on shares of Nanometrics in a research note on Wednesday, May 3rd. Stifel Nicolaus raised Nanometrics from a “hold” rating to a “buy” rating and increased their price objective for the company from $29.00 to $31.00 in a research note on Friday, June 16th. They noted that the move was a valuation call. Zacks Investment Research raised Nanometrics from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, May 5th. Finally, BidaskClub lowered Nanometrics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.50.
Shares of Nanometrics (NASDAQ NANO) opened at 25.27 on Friday. The company has a 50-day moving average price of $26.26 and a 200 day moving average price of $27.62. Nanometrics has a 12-month low of $18.65 and a 12-month high of $32.42. The company has a market capitalization of $644.26 million, a P/E ratio of 13.44 and a beta of 1.73.
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In related news, Director Bruce C. Rhine sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $29.47, for a total value of $294,700.00. Following the completion of the sale, the director now owns 736,561 shares of the company’s stock, valued at $21,706,452.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rollin Kocher sold 2,181 shares of the firm’s stock in a transaction on Monday, May 29th. The stock was sold at an average price of $27.97, for a total value of $61,002.57. Following the completion of the sale, the senior vice president now directly owns 28,364 shares of the company’s stock, valued at approximately $793,341.08. The disclosure for this sale can be found here. Insiders sold 77,124 shares of company stock valued at $2,055,399 in the last ninety days. 6.70% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Nanometrics by 81,374.7% in the first quarter. BlackRock Inc. now owns 3,091,965 shares of the semiconductor company’s stock worth $94,182,000 after buying an additional 3,088,170 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of 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 buying an additional 370,127 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Nanometrics by 892.7% in the second quarter. Teachers Advisors LLC now owns 396,002 shares of the semiconductor company’s stock worth $10,015,000 after buying an additional 356,109 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of Nanometrics during the first quarter worth approximately $3,813,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Nanometrics by 134.9% in the second quarter. TIAA CREF Investment Management LLC now owns 351,648 shares of the semiconductor company’s stock worth $8,894,000 after buying an additional 201,969 shares during the last quarter. 80.20% of the stock is owned by institutional investors.
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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