Price Action to Note: What’s Next for Nanometrics Incorporated After Making 52-Week High?

Price Action to Note: What's Next for Nanometrics Incorporated After Making 52 Week High?

The stock of Nanometrics Incorporated (NASDAQ:NANO) hit a new 52-week high and has $36.67 target or 48.00% above today’s $24.78 share price. The 7 months bullish chart indicates low risk for the $634.21M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $36.67 price target is reached, the company will be worth $304.42 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,847 shares traded hands. Nanometrics Incorporated (NASDAQ:NANO) has risen 64.46% since April 19, 2016 and is uptrending. It has outperformed by 60.60% the S&P500.

Nanometrics Incorporated (NASDAQ:NANO) Ratings Coverage

Out of 4 analysts covering Nanometrics (NASDAQ:NANO), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. Nanometrics has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Wednesday, October 12, the company rating was downgraded by Pacific Crest. The stock of Nanometrics Incorporated (NASDAQ:NANO) has “Neutral” rating given on Monday, August 10 by DA Davidson. Stifel Nicolaus maintained Nanometrics Incorporated (NASDAQ:NANO) rating on Monday, June 27. Stifel Nicolaus has “Buy” rating and $25 price target. The firm has “Sell” rating by TheStreet given on Friday, October 16.

According to Zacks Investment Research, “Nanometrics Inc. is a leader in the design, manufacture, marketing, and support of process monitoring systems for the semiconductor, data storage, and flat panel display industries. The company’s primary products are thin film measurement/analysis and overlay metrology systems. These products are used to analyze manufacturing quality at critical steps in production and to provide feedback for production control or notification of out-of-control processes.”

Insitutional Activity: The institutional sentiment decreased to 1.89 in Q2 2016. Its down 0.36, from 2.25 in 2016Q1. The ratio is negative, as 6 funds sold all Nanometrics Incorporated shares owned while 26 reduced positions. 30 funds bought stakes while 42 increased positions. They now own 19.93 million shares or 0.04% more from 19.93 million shares in 2016Q1.
State Teachers Retirement System owns 15,125 shares or 0% of their US portfolio. Ameriprise Fincl owns 189,449 shares or 0% of their US portfolio. Axa accumulated 0.01% or 91,300 shares. State Of Tennessee Treasury Department accumulated 0% or 19,254 shares. Blackrock Institutional Tru Na, a California-based fund reported 702,223 shares. Moreover, Blackrock Fund has 0.01% invested in Nanometrics Incorporated (NASDAQ:NANO) for 1.61 million shares. Great West Life Assurance Communication Can accumulated 3,067 shares or 0% of the stock. Manufacturers Life Ins The has 16,425 shares for 0% of their US portfolio. Blackrock has invested 0% of its portfolio in Nanometrics Incorporated (NASDAQ:NANO). Blackrock Gru owns 31,487 shares or 0% of their US portfolio. Public Employees Retirement Association Of Colorado reported 11,459 shares or 0% of all its holdings. The New York-based Metropolitan Life Company New York has invested 0% in Nanometrics Incorporated (NASDAQ:NANO). The Massachusetts-based State Street has invested 0% in Nanometrics Incorporated (NASDAQ:NANO). Teachers Advsr Inc owns 41,824 shares or 0% of their US portfolio. Alliancebernstein Lp holds 0% or 27,550 shares in its portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 12 insider sales for $896,696 net activity. Heidrich Kevin had sold 3,083 shares worth $67,826 on Monday, November 7. 5,010 Nanometrics Incorporated (NASDAQ:NANO) shares with value of $112,725 were sold by Andreson Jeff. Rhine Bruce C sold $220,800 worth of Nanometrics Incorporated (NASDAQ:NANO) on Monday, October 3. 1,093 shares were sold by Taylor Janet Therese, worth $22,428. Shares for $4,576 were sold by Borowicz Stanislaw M..

NANO Company Profile

Nanometrics Incorporated (Nanometrics), incorporated on January 18, 2005, provides process control metrology and inspection systems used in the fabrication of integrated circuits, high-brightness light emitting diodes (HB-LEDs), discrete components and data storage devices. The Firm operates in the segment of sale, design, manufacture, marketing and support of thin film and optical critical dimension systems. The Company’s automated and integrated systems address process control applications, including critical dimension and film thickness measurement, device topography, defect inspection, and analysis of various other film properties, such as optical, electrical and material characteristics. The Company’s process control solutions are deployed throughout the fabrication process, from front-end-of-line substrate manufacturing, to high-volume production of semiconductors and other devices, to advanced wafer-scale packaging applications.

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