Nearly every semiconductor tool company is looking for its way to exploit the increasing complexity of semiconductors, as companies turn to 3D architectures and new packaging technologies to achieve new performance milestones. For Nanometrics (NASDAQ:NANO), its angle is exposure to growing process control needs and an increased number of inspection steps in the chip fabrication and packaging processes.
With solid (and growing) share in optical critical dimension tools, which are themselves gaining share in the metrology market, and solid positions with leading players in the memory and fab sectors, Nanometrics is looking forward to what ought to be double-digit revenue growth and peak EBITDA margins in the coming years. While competitors like KLA-Tencor (NASDAQ:KLAC) and Nova Measuring (NASDAQ:NVMI) aren't to be taken lightly, Nanometrics could still offer some upside provided that major chip companies continue to invest in new equipment to support more advanced process nodes.
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Nanometrics Offers A Variation On A Familiar Theme