After B.Riley FBR and Benchmark Co. gave Nanometrics Inc (NASDAQ: NANO) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Quinn Bolton reiterated a Buy rating on Nanometrics Inc yesterday and set a price target of $42. The company’s shares closed yesterday at $33.51.
According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.8% and a 65.5% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Applied Materials Inc, and Ultra Clean Holdings.
Currently, the analyst consensus on Nanometrics Inc is a Strong Buy with an average price target of $38.42, which is a 14.7% upside from current levels. In a report issued on June 18, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $41 price target.
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Based on Nanometrics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $2.97 million. In comparison, last year the company had a net profit of $16.38 million.
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Nanometrics, Inc. engages in the production of process control metrology and inspection systems used in the fabrication of semiconductors and other solid-state devices. The firm operates through the following geographical segments: South Korea; China; Singapore; United States; Taiwan; Japan; and Others.
