Zacks Investment Research Downgrades Orbotech Ltd. (ORBK) to Hold
Orbotech Ltd. (NASDAQ:ORBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Orbotech LTD. is the world leader in the design, development, manufacture and marketing of AOI systems for use in the manufacture of printed circuit boards and flat panel displays and is a leader in the design, development, manufacture and marketing of imaging solutions for PCB production and of AOI systems for use in the electronics assembly industry. They market computer aided manufacturing solutions for PCB production and continue to develop its proprietary AOI technologies for use in other applications both within and outside the electronics industry. (press release) “
ORBK has been the topic of a number of other research reports. BidaskClub lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Standpoint Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Stifel Nicolaus initiated coverage on shares of Orbotech in a research note on Thursday, August 31st. They set a “buy” rating and a $46.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Orbotech in a research note on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $42.00 price target on shares of Orbotech in a research note on Tuesday, May 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.50.
Orbotech (ORBK) traded down 1.77% on Friday, reaching $41.00. 385,064 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $37.65 and a 200 day moving average of $34.38. The stock has a market capitalization of $1.96 billion, a PE ratio of 22.01 and a beta of 0.78. Orbotech has a 12 month low of $26.69 and a 12 month high of $42.33.
Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Orbotech’s revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Orbotech will post $2.80 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in Orbotech by 293.4% during the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after buying an additional 3,227 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Orbotech by 40.9% during 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 in the last quarter. Greenwood Capital Associates LLC acquired a new stake in Orbotech during the first quarter worth $207,000. Airain ltd acquired a new stake in Orbotech during the second quarter worth $208,000. Finally, Penserra Capital Management LLC boosted its stake in Orbotech by 75.0% during 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 in the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.
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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