Orbotech Ltd. (NASDAQ:ORBK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ORBK has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Orbotech in a research report on Monday, May 22nd. Supply Chain Market Research LLC increased their target price on shares of Orbotech from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Cowen and Company increased their target price on shares of Orbotech from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of Orbotech from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Standpoint Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Orbotech currently has a consensus rating of “Buy” and an average price target of $39.14.

Shares of Orbotech (NASDAQ:ORBK) traded up 0.57% during mid-day trading on Friday, reaching $37.15. 139,359 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $35.41 and a 200 day moving average price of $33.67. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 19.94 and a beta of 0.80. Orbotech has a 12-month low of $26.69 and a 12-month high of $37.84.

Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.08. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Orbotech’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts anticipate that Orbotech will post $2.80 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC bought a new position in shares of Orbotech during the fourth quarter worth about $5,914,000. State Street Corp raised 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 worth $9,642,000 after buying an additional 64,074 shares during the last quarter. Penserra Capital Management LLC raised 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 worth $218,000 after buying an additional 2,907 shares during the last quarter. Envestnet Asset Management Inc. raised 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 worth $165,000 after buying an additional 1,479 shares during the last quarter. Finally, Northwest Investment Counselors LLC raised 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 worth $581,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.

About Orbotech

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.

Analyst Recommendations for Orbotech (NASDAQ:ORBK)

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