Nanometrics Shares Down Nearly 12% (NANO)

Shares of Nanometrics Incorporated NANO are trading down 11.9% at $12.49 per share during the Wednesday afternoon trading session. The day's trading range for shares of Nanometrics Incorporated has been between $12.41 and $13.62 per share. Analysts covering the company's stock give it a consensus price target of $17.38 per share. Volume of 1.6 million shares is more than double the daily average volume of 755,000 shares. Nanometrics Incorporated (NANO) reported its 3rd quarter financial results late on Tuesday after the market closed. Nanometrics Incorporated announced 3rd quarter earnings per share of 53 cents, on revenue of $53.9 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 55 cents per share, on revenue of $53.71 million. President and chief executive officer Dr. Timothy J. Stultz said, “Our results demonstrate another strong quarter for Nanometrics, with continued record levels of revenues and operating profitability. Our operations team once again executed superbly in response to strong customer demand, and our financial performance continues to track well with industry leaders and the stated targets we set out for our company." Read more from Benzinga's Company news.