Nanometrics Incorporated (NANO) Expected to Earn Q3 2018 Earnings of $0.32 Per Share
Nanometrics Incorporated (NASDAQ:NANO) – Analysts at KeyCorp cut their Q3 2018 EPS estimates for Nanometrics in a research report issued on Tuesday. KeyCorp analyst W. Twigg now forecasts that the semiconductor company will earn $0.32 per share for the quarter, down from their previous forecast of $0.35. KeyCorp also issued estimates for Nanometrics’ Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $1.87 EPS.
Several other research firms also recently commented on NANO. Benchmark reiterated a “buy” rating and set a $34.00 target price on shares of Nanometrics in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Nanometrics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Nanometrics from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th.
Nanometrics (NASDAQ:NANO) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $76.95 million. Nanometrics had a net margin of 11.68% and a return on equity of 12.05%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS.
A number of large investors have recently bought and sold shares of NANO. JPMorgan Chase & Co. boosted its position in Nanometrics by 161.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 368,507 shares of the semiconductor company’s stock worth $10,539,000 after buying an additional 227,710 shares during the period. Dimensional Fund Advisors LP boosted its position in Nanometrics by 13.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,374,528 shares of the semiconductor company’s stock worth $34,762,000 after buying an additional 160,595 shares during the period. Ameriprise Financial Inc. boosted its position in Nanometrics by 72.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 320,772 shares of the semiconductor company’s stock worth $8,112,000 after buying an additional 134,802 shares during the period. BlackRock Inc. boosted its position in Nanometrics by 3.0% during the 4th quarter. BlackRock Inc. now owns 3,229,719 shares of the semiconductor company’s stock worth $80,486,000 after buying an additional 95,367 shares during the period. Finally, TrueNorth Inc. acquired a new stake in Nanometrics during the 4th quarter worth approximately $1,192,000. Institutional investors and hedge funds own 83.05% of the company’s stock.
In related news, CEO Timothy J. Stultz sold 14,166 shares of Nanometrics 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 directly owns 294,817 shares in the company, valued at approximately $7,644,604.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 14,781 shares of company stock worth $382,656. 6.70% of the stock is owned by corporate insiders.
Nanometrics declared that its Board of Directors has initiated a share buyback program on Wednesday, November 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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