UDPATE: Piper Jaffray Reiterates Neutral, Ups PT to $17 on Nanometrics

Piper Jaffray maintains its Neutral rating on Nanometrics NANO on positive capital spending data from the company's customer base. Piper says, “NANO has a high customer concentration at several leading semiconductor companies including Samsung, Intel and Hynix. Collectively these companies make up roughly 60% of NANO's revenue. We estimate collectively that capital spending at these companies will be flat to up 10% next year, thus giving us confidence in our CY12 revenue estimate of $240M, or up 6%. In addition, we speculate that Intel may be having process control issues with its recently introduced FinFET technology, which may cause Intel to increase its use of NANO process control equipment.” NANO closed at $16.95 per share on Wednesday.