2013-03-08 01:02:05 -
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.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of Nanometrics based on the research report. If this link is not
enabled, please visit www.InvestmentPitch.com and enter "Nanometrics" in the
search box.
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. 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.
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.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1683938]