Zacks Investment Research upgraded shares of Orbotech Ltd. (NASDAQ:ORBK) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $47.00 price objective on the electronics maker’s stock.
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) “
Several other equities analysts have also commented on the stock. Jefferies Group LLC restated a buy rating and issued a $42.00 price objective on shares of Orbotech in a report on Tuesday. Stifel Nicolaus assumed coverage on shares of Orbotech in a report on Thursday, August 31st. They issued a buy rating and a $46.00 price objective on the stock. BidaskClub upgraded shares of Orbotech from a sell rating to a hold rating in a report on Saturday, August 12th. Supply Chain Market Research LLC upped their price objective on shares of Orbotech from $37.00 to $43.00 and gave the stock an outperform rating in a report on Monday, August 7th. Finally, Needham & Company LLC restated a buy rating and issued a $40.00 price objective (up from $38.00) on shares of Orbotech in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $42.13.
Orbotech (NASDAQ ORBK) traded up 0.47% during mid-day trading on Wednesday, hitting $42.95. 457,777 shares of the stock traded hands. The stock has a market cap of $2.06 billion, a P/E ratio of 23.05 and a beta of 0.78. The stock has a 50-day moving average price of $38.47 and a 200-day moving average price of $34.79. Orbotech has a 12 month low of $26.83 and a 12 month high of $43.07.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, beating 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 business 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 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Orbotech will post $2.80 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the company. Malaga Cove Capital LLC lifted its holdings in shares of Orbotech by 1.7% in the 2nd quarter. Malaga Cove Capital LLC now owns 18,371 shares of the electronics maker’s stock worth $599,000 after acquiring an additional 300 shares during the last quarter. Callahan Advisors LLC lifted its holdings in Orbotech by 1.4% during the 2nd quarter. Callahan Advisors LLC now owns 49,460 shares of the electronics maker’s stock worth $1,613,000 after buying an additional 685 shares in the last quarter. Strategic Global Advisors LLC lifted its holdings in Orbotech by 2.8% during the 2nd quarter. Strategic Global Advisors LLC now owns 29,670 shares of the electronics maker’s stock worth $968,000 after buying an additional 800 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Orbotech by 5.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,835 shares of the electronics maker’s stock worth $549,000 after buying an additional 864 shares in the last quarter. Finally, Renaissance Group LLC lifted its holdings in Orbotech by 8.5% during the 2nd quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock worth $452,000 after buying an additional 1,082 shares in the last quarter. Hedge funds and other institutional investors 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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