Vancouver, British Columbia, March 7, 2013 - Canaccord Genuity has initiated coverage on Nanometrics (NASDAQ:NANO). Analyst Josh Baribeau gives the company a buy rating and a $20 price target, a 35% premium to the $14.84 price at the time the report was issued.
(http://www.investmentpitch.com/video/0_f0t9sbs9/Canaccord-Genuity-Initiates-Coverage-on-Nanometrics-NASDAQ-NANO)Nanometrics is a leading provider of advanced, high-performance process control metrology and inspection systems, used primarily in the fabrication of semiconductors.
The company's process control solutions are deployed throughout the fabrication process, enabling device manufacturers to improve yields, increase productivity, and lower costs. They have an extensive installed base of more than 6,500 systems in more than 150 production factories worldwide, including the largest semiconductor and process equipment manufacturers.
Baribeau stated, "Nanometrics benefits from both the cyclical rebound in overall semiconductor spending as well as the secular trend of increased capital intensity for process control in advanced semiconductor nodes. We believe that multiple expansion is occurring across the entire market and that NANO shares have upside potential into this upturn given the company's leverage on better volumes."
Nanometrics currently trades at $15.50, and with 23 million shares outstanding, is capitalized at $356 million.
For more information please visit the company's website www.nanometrics.com, or call Ronald Kisling, the company's CFO at 408-545-6143 or by email at rkisling@nanometrics.com (mailto:rkisling@nanometrics.com). The company's investor relations are handled by Claire McAdams of Headgate Partners. She can be reached at 530-265-9899 or Claire@headgatepartners.com (mailto:Claire@headgatepartners.com).
For more information about Canaccord Genuity or to obtain a copy of their research report, contact your nearest Canaccord Genuity office. Their branches are listed on their website at www.canaccord.com (http://www.canaccord.com/).
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