Orbotech Ltd. (ORBK) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Orbotech Ltd. (NASDAQ:ORBK) from a buy rating to a hold rating in a research note issued to investors 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) “

A number of other analysts have also recently issued reports on ORBK. Standpoint Research cut shares of Orbotech from a buy rating to a hold rating in a research note on Monday, May 22nd. Cowen and Company reiterated an outperform rating on shares of Orbotech in a research note on Monday, May 22nd. Needham & Company LLC reiterated a buy rating and issued a $38.00 target price on shares of Orbotech in a research note on Monday, May 22nd. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $42.00 target price on shares of Orbotech in a research note on Tuesday, May 23rd. Finally, BidaskClub cut shares of Orbotech from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $40.50.

Orbotech (ORBK) opened at 41.00 on Friday. Orbotech has a 12 month low of $26.69 and a 12 month high of $42.33. The firm’s 50-day moving average is $37.65 and its 200 day moving average is $34.38. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 22.01 and a beta of 0.78.

Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.08. The firm had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Equities analysts predict 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 ORBK. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Orbotech in the second quarter worth $23,095,000. Victory Capital Management Inc. lifted its stake in shares of Orbotech by 249.2% in the first quarter. Victory Capital Management Inc. now owns 878,708 shares of the electronics maker’s stock worth $28,338,000 after buying an additional 627,098 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Orbotech by 58.1% in the second quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock worth $55,209,000 after buying an additional 622,014 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Orbotech by 77.4% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,424,023 shares of the electronics maker’s stock worth $45,925,000 after buying an additional 621,478 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Orbotech by 39.3% in the second quarter. Royce & Associates LP now owns 915,243 shares of the electronics maker’s stock worth $29,855,000 after buying an additional 258,153 shares during 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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