Supply Chain Market Research LLC Raises Orbotech Ltd. (ORBK) Price Target to $43.00
Orbotech Ltd. (NASDAQ:ORBK) had its price objective boosted by stock analysts at Supply Chain Market Research LLC from $37.00 to $43.00 in a research note issued to investors on Monday. The brokerage currently has an “outperform” rating on the electronics maker’s stock. Supply Chain Market Research LLC’s price target would suggest a potential upside of 19.68% from the stock’s previous close.
The analysts wrote, “Key Points:
– 2Q ‘17 Rev. $210.7m – above consensus
– 2Q ’17 EPS $0.67 – above consensus
– 2H guidance ($465m s.p.) – above consensus
– Maintain 2017 Rev. – $869 – Raise 2017 EPS from $2.64 to $2.76
– Establish 2018 estimate of $934.0 and $ 3.19
– Raise target price to $43.00″
Several other analysts have also recently weighed in on ORBK. BidaskClub cut Orbotech from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target (up from $38.00) on shares of Orbotech in a report on Thursday. Zacks Investment Research raised Orbotech from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating on shares of Orbotech in a report on Wednesday, May 3rd. Finally, Cowen and Company reissued an “outperform” rating on shares of Orbotech in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $38.00.
Orbotech (ORBK) opened at 35.92 on Monday. Orbotech has a 52 week low of $26.69 and a 52 week high of $37.75. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.28 and a beta of 0.80. The company has a 50 day moving average price of $34.70 and a 200-day moving average price of $33.50.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. Equities analysts predict that Orbotech will post $2.80 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC bought a new position in shares of Orbotech during the fourth quarter valued at $5,914,000. State Street Corp boosted its position in shares of Orbotech by 28.5% in the fourth quarter. State Street Corp now owns 288,657 shares of the electronics maker’s stock valued at $9,642,000 after buying an additional 64,074 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock valued at $218,000 after buying an additional 2,907 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Orbotech by 40.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock valued at $165,000 after buying an additional 1,479 shares in the last quarter. Finally, Northwest Investment Counselors LLC boosted its position in shares of Orbotech by 1.6% in the first quarter. Northwest Investment Counselors LLC now owns 18,009 shares of the electronics maker’s stock valued at $581,000 after buying an additional 277 shares in the last quarter. 70.66% of the stock is owned by hedge funds and other institutional investors.
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.
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