Orbotech Ltd. (ORBK) Receives Average Recommendation of “Buy” from Analysts
Shares of Orbotech Ltd. (NASDAQ:ORBK) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.60.
Several research firms have recently weighed in on ORBK. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, September 20th. Jefferies Group LLC reissued a “buy” rating and set a $42.00 price objective on shares of Orbotech in a research note on Tuesday, September 12th. Stifel Nicolaus began coverage on Orbotech in a research note on Thursday, August 31st. They set a “buy” rating and a $46.00 price objective for the company. Finally, BidaskClub lowered Orbotech from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Orbotech by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock worth $76,755,000 after acquiring an additional 30,700 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Orbotech by 40.6% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,001,779 shares of the electronics maker’s stock worth $65,298,000 after acquiring an additional 577,756 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Orbotech by 58.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock worth $55,209,000 after acquiring an additional 622,014 shares in the last quarter. FMR LLC boosted its stake in shares of Orbotech by 8.8% during the 1st quarter. FMR LLC now owns 1,490,733 shares of the electronics maker’s stock worth $48,076,000 after acquiring an additional 120,871 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Orbotech by 12.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock worth $41,967,000 after acquiring an additional 147,031 shares in the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.
Shares of Orbotech (ORBK) traded up 0.87% during trading on Wednesday, reaching $44.01. The company had a trading volume of 114,851 shares. The stock’s 50-day moving average price is $42.07 and its 200-day moving average price is $36.69. The stock has a market capitalization of $2.11 billion, a PE ratio of 23.62 and a beta of 0.79. Orbotech has a 12 month low of $26.83 and a 12 month high of $44.30.
Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The firm had revenue of $210.66 million during the quarter, compared to analyst estimates of $205.20 million. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities analysts forecast that Orbotech will post $2.80 earnings per share for the current fiscal year.
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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