Orbotech Ltd. (NASDAQ:ORBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $45.00 target price on the electronics maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.76% from the stock’s previous close.

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 subject of several other research reports. BidaskClub cut shares of Orbotech from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Standpoint Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Stifel Nicolaus assumed coverage on shares of Orbotech in a report on Thursday, August 31st. They issued a “buy” rating and a $46.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Orbotech in a report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $42.00 target price on shares of Orbotech in a report on Tuesday, May 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.50.

Orbotech (NASDAQ:ORBK) traded down 1.77% on Wednesday, hitting $41.00. 385,064 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $37.65 and its 200-day moving average price is $34.38. The company has a market cap 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 posted its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, topping the 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 previous year, the business posted $0.60 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. Analysts forecast that Orbotech will post $2.80 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Orbotech by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock valued at $76,755,000 after buying an additional 30,700 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Orbotech by 40.6% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,001,779 shares of the electronics maker’s stock valued at $65,298,000 after buying an additional 577,756 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Orbotech by 58.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock valued at $55,209,000 after buying an additional 622,014 shares in the last quarter. FMR LLC boosted its holdings in shares of Orbotech by 8.8% in the 1st quarter. FMR LLC now owns 1,490,733 shares of the electronics maker’s stock valued at $48,076,000 after buying an additional 120,871 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Orbotech by 12.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock valued at $41,967,000 after buying an additional 147,031 shares in the last quarter. Institutional investors and hedge funds own 69.92% of the company’s stock.

Orbotech Company Profile

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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