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Is Nanometrics Incorporated (NANO) A Good Stock To Buy?

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Investing in hedge funds can bring large profits, but it’s not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ a complex analysis to determine the best stocks to invest in. A particularly interesting group of stocks that hedge funds like is the small-caps. The huge amount of capital does not allow hedge funds to invest a lot in small-caps, but our research showed that their most popular small-cap ideas are less efficiently priced and generate stronger returns than their large- and mega-cap picks and the broader market. That is why we follow the hedge fund activity in the small-cap space.

Hedge fund interest in Nanometrics Incorporated (NASDAQ:NANO) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare NANO to other stocks including Handy and Harman Ltd (NASDAQ:HNH), AEP Industries (NASDAQ:AEPI), and Newcastle Investment Corp. (NYSE:NCT) to get a better sense of its popularity.

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Keeping this in mind, let’s view the recent action encompassing Nanometrics Incorporated (NASDAQ:NANO).

How are hedge funds trading Nanometrics Incorporated (NASDAQ:NANO)?

Heading into Q4, a total of 7 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from one quarter earlier. With the smart money’s capital changing hands, there exists a select group of notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Royce & Associates, managed by Chuck Royce, holds the biggest position in Nanometrics Incorporated (NASDAQ:NANO). Royce & Associates has an $33.5 million position in the stock, comprising 0.2% of its 13F portfolio. The second most bullish fund manager is Discovery Group, managed by Michael Murphy and Daniel Donoghue, which holds an $8.8 million position; 3% of its 13F portfolio is allocated to the company. Some other peers that are bullish comprise Christopher Zepf and Brian Thonn’s Kingdom Ridge Capital, Jim Simons’s Renaissance Technologies and Ken Griffin’s Citadel Investment Group.

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