KeyCorp Comments on Nanometrics Incorporated’s Q3 2018 Earnings (NANO)
Nanometrics Incorporated (NASDAQ:NANO) – Research analysts at KeyCorp cut their Q3 2018 earnings estimates for Nanometrics in a research report issued to clients and investors on Tuesday. KeyCorp analyst W. Twigg now anticipates that the semiconductor company will post earnings of $0.32 per share for the quarter, down from their prior estimate 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.
Nanometrics (NASDAQ:NANO) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. The business had revenue of $78.20 million during the quarter, compared to the consensus estimate of $76.95 million. Nanometrics had a return on equity of 12.03% and a net margin of 11.68%. Nanometrics’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share.
Nanometrics (NASDAQ:NANO) traded down $0.77 during trading hours on Thursday, hitting $25.20. The company had a trading volume of 76,430 shares, compared to its average volume of 182,230. The company has a market capitalization of $650.10, a P/E ratio of 21.71, a PEG ratio of 1.22 and a beta of 1.65. Nanometrics has a fifty-two week low of $22.08 and a fifty-two week high of $32.42.
Nanometrics declared that its board has approved a stock repurchase program on Wednesday, November 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO Timothy J. Stultz sold 14,166 shares of Nanometrics stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $25.93, for a total value of $367,324.38. Following the transaction, the chief executive officer now owns 294,817 shares in the company, valued at approximately $7,644,604.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 14,781 shares of company stock worth $382,656. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in Nanometrics by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 47,108 shares of the semiconductor company’s stock worth $1,191,000 after buying an additional 358 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Nanometrics by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,968 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 585 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Nanometrics by 3.5% during the 2nd quarter. Wells Fargo & Company MN now owns 17,373 shares of the semiconductor company’s stock worth $439,000 after acquiring an additional 593 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in Nanometrics by 8.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 15,350 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Nanometrics by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 113,351 shares of the semiconductor company’s stock worth $2,867,000 after acquiring an additional 1,286 shares in the last quarter. Institutional investors own 83.05% 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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