Short Interest in Nanometrics Incorporated (NASDAQ:NANO) Expands By 8.4%

Nanometrics Incorporated (NASDAQ:NANO) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,824,200 shares, an increase of 8.4% from the May 15th total of 1,683,200 shares. Currently, 8.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 213,200 shares, the short-interest ratio is presently 8.6 days.

Several research analysts have commented on the stock. B. Riley set a $14.00 price objective on shares of SM Energy and gave the stock a “hold” rating in a research note on Wednesday, June 19th. DA Davidson initiated coverage on shares of Uber Technologies in a research note on Wednesday, May 1st. They set a “neutral” rating and a $53.00 price objective for the company. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price (down from $15.00) on shares of Nabriva Therapeutics in a research note on Wednesday, May 1st. Finally, BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.50.

In related news, Director Timothy J. Stultz sold 12,014 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $35.17, for a total value of $422,532.38. Following the sale, the director now owns 239,263 shares in the company, valued at $8,414,879.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. Stultz sold 47,986 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $35.04, for a total transaction of $1,681,429.44. Following the completion of the sale, the director now owns 257,249 shares in the company, valued at approximately $9,014,004.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,725 shares of company stock worth $2,129,533. Company insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Nanometrics by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,385 shares of the semiconductor company’s stock valued at $3,092,000 after acquiring an additional 5,275 shares during the period. Rhumbline Advisers boosted its holdings in Nanometrics by 21.3% during the 4th quarter. Rhumbline Advisers now owns 67,143 shares of the semiconductor company’s stock valued at $1,835,000 after acquiring an additional 11,794 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in Nanometrics during the 4th quarter valued at about $252,000. Virginia Retirement Systems ET AL purchased a new position in Nanometrics during the 4th quarter valued at about $317,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Nanometrics by 126.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,273 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 1,268 shares during the period. Hedge funds and other institutional investors own 85.76% of the company’s stock.

Nanometrics stock traded up $0.14 during trading hours on Friday, reaching $33.63. The stock had a trading volume of 165,029 shares, compared to its average volume of 328,875. The company has a market capitalization of $825.11 million, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.96 and a beta of 1.65. The company has a current ratio of 5.24, a quick ratio of 3.98 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $32.90. Nanometrics has a 52 week low of $25.52 and a 52 week high of $48.26.

Nanometrics (NASDAQ:NANO) last announced its earnings results on Tuesday, April 30th. The semiconductor company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Nanometrics had a return on equity of 15.43% and a net margin of 14.30%. The firm had revenue of $67.10 million during the quarter, compared to the consensus estimate of $64.82 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities analysts anticipate that Nanometrics will post 1.43 earnings per share for the current fiscal year.

Nanometrics Company Profile

Nanometrics Incorporated provides process control metrology and inspection systems for use primarily in the fabrication of semiconductors and other solid-state devices, and industrial and scientific applications worldwide. The company offers automated metrology systems that provide optical critical dimension, thin film metrology, and wafer stress metrology for transistor and interconnect metrology applications; and integrated metrology systems that are installed onto wafer processing equipment to provide near real-time measurements.

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