NANO to Benefit From Expansion in Diversity of Equipment Vendors
Analysts at Piper Jaffray maintain their "overweight" rating on Nanometrics (NASDAQ: NANO). The target price for NANO has been raised from $13 to $17.
According to Piper Jaffray, Nanometrics’ recent share count increase has been offset by higher revenue and gross margin assumptions. Industry contacts indicate that NANO is poised to benefit from the expected increase in the diversity of semiconductor equipment vendors, the analysts say.
According to Piper Jaffray, the expected increase in capital spending from companies such as Hynix and Toshiba during 2010 would benefit Nanometrics substantially. Moreover, the overlay market is likely to drive NANO’s growth significantly over the forthcoming quarters, the analysts say. If the company begins to penetrate the overlay market with its new product offerings, there can be significant upside to the estimates, the analysts add.
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