Nanometrics Incorporated (NASDAQ:NANO) Releases Q3 Earnings Guidance
Nanometrics Incorporated (NASDAQ:NANO) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.22-0.31 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.35. The company issued revenue guidance of $60-64 million, compared to the consensus revenue estimate of $68.73 million.
Nanometrics Incorporated (NASDAQ NANO) traded up 1.90% during trading on Friday, hitting $25.27. 150,177 shares of the stock were exchanged. The firm has a market capitalization of $644.26 million, a price-to-earnings ratio of 13.44 and a beta of 1.73. The company has a 50-day moving average price of $26.26 and a 200 day moving average price of $27.62. Nanometrics Incorporated has a 1-year low of $18.65 and a 1-year high of $32.42.
Nanometrics (NASDAQ:NANO) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $64.43 million for the quarter, compared to the consensus estimate of $66.37 million. Nanometrics had a net margin of 12.86% and a return on equity of 12.81%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Equities analysts predict that Nanometrics Incorporated will post $1.20 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on NANO shares. Zacks Investment Research downgraded Nanometrics from a hold rating to a sell rating in a research note on Friday, August 4th. Stifel Nicolaus upgraded Nanometrics from a hold rating to a buy rating and boosted 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. Benchmark Co. reiterated a buy rating and set a $34.00 price objective (up from $30.00) on shares of Nanometrics in a research note on Wednesday, May 3rd. Finally, BidaskClub downgraded Nanometrics from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $31.50.
In other Nanometrics news, CEO Timothy J. Stultz sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $25.19, for a total value of $503,800.00. Following the completion of the transaction, the chief executive officer now directly owns 300,651 shares in the company, valued at approximately $7,573,398.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce C. Rhine sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 736,561 shares of the company’s stock, valued at $21,706,452.67. The disclosure for this sale can be found here. Insiders sold a total of 77,124 shares of company stock valued at $2,055,399 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.
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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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