UPDATE: Piper Jaffray Lowers Price Target On Nanometrics To $18

According to Piper Jaffray, Nanometrics NANO price target is lowered to $18. Piper Jaffray said that it is trimming its numbers for NANO. It believes Intel will truncate its build out of 22nm due to a weakening PC outlook and lack of traction selling foundry services to OEMs. “The company is working to lower its tax rate to 25%. If the company is successful, this would increase our CY12 estimates to $1.73.” Nanometrics closed on Friday at $14.49.