Nanometrics (NANO) is up sharply on its most recent earnings report. But shares are still a great value after sizable estimate revisions.
Company Description
Nanometrics makes control metrology systems used by semiconductor, LED, data storage and solar photovoltaic manufacturers. The systems are used to improve yields, productivity and lower costs.
Revenue Surges
On Aug 5 Nanometrics reported quarterly results that showed a 37% sequential increase in revenue, to $51 million. On a year over year basis it was a 250% improvement.
Earnings per shares came in at a company record of 51 cents. After adjustments, that comes to 56 cents, more than double the Zacks Consensus Estimate of 27 cents.
Estimates Jump
Immediately following the earnings release analysts cranked up their forecasts. Estimate for this year are up 61 cents to $1.78. Next year’s projections are also up 61 cents on average, to $1.80.
Last year the company had a 71 cent loss, making this a very impressive turnaround.
The Chart
The valuations are great even after the stock jumped on the news. Shares are trading at just 8 times forward earnings and have a PEG ratio of 0.4.
Read the June 18th Feature Here
Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service
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