Nanometrics (NASDAQ:NANO) announced that its board has approved a share repurchase plan, which allows the company to repurchase $50.00 million in shares on Wednesday, November 15th, EventVestor reports. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have commented on NANO shares. Zacks Investment Research upgraded Nanometrics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub cut Nanometrics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Benchmark Co. reiterated a “buy” rating and issued a $34.00 price target on shares of Nanometrics in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.67.
Nanometrics (NANO) opened at $26.44 on Friday. Nanometrics has a 12 month low of $22.23 and a 12 month high of $32.42. The stock has a market capitalization of $687.73, a PE ratio of 24.57, a PEG ratio of 1.83 and a beta of 1.81.
Nanometrics (NASDAQ:NANO) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Nanometrics had a return on equity of 10.26% and a net margin of 19.23%. The firm had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $56.53 million. During the same period last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. analysts forecast that Nanometrics will post 1.16 EPS for the current fiscal year.
In other news, CEO Timothy J. Stultz sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.17, for a total value of $523,400.00. Following the completion of the transaction, the chief executive officer now directly owns 300,651 shares in the company, valued at $7,868,036.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Janet Therese Taylor sold 2,505 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $25.65, for a total value of $64,253.25. Following the completion of the transaction, the general counsel now owns 35,833 shares of the company’s stock, valued at $919,116.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,904 shares of company stock valued at $1,714,064. Company insiders own 6.70% of the company’s stock.
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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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