Orbotech Ltd. (ORBK) Price Target Raised to $43.00
Orbotech Ltd. (NASDAQ:ORBK) had its target price increased by investment analysts at Supply Chain Market Research LLC from $37.00 to $43.00 in a note issued to investors on Monday. The firm presently has an “outperform” rating on the electronics maker’s stock. Supply Chain Market Research LLC’s price objective indicates a potential upside of 19.68% from the stock’s previous close.
The analysts wrote, “Key Points:
– 2Q ‘17 Rev. $210.7m – above consensus
– 2Q ’17 EPS $0.67 – above consensus
– 2H guidance ($465m s.p.) – above consensus
– Maintain 2017 Rev. – $869 – Raise 2017 EPS from $2.64 to $2.76
– Establish 2018 estimate of $934.0 and $ 3.19
– Raise target price to $43.00″
Several other analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Orbotech in a report on Thursday. BidaskClub downgraded shares of Orbotech from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised shares of Orbotech from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Orbotech in a report on Tuesday, May 23rd. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Orbotech in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.00.
Orbotech (NASDAQ ORBK) opened at 35.93 on Monday. Orbotech has a 12 month low of $26.69 and a 12 month high of $37.75. The firm has a market cap of $1.72 billion, a P/E ratio of 19.29 and a beta of 0.80. The firm has a 50 day moving average of $34.70 and a 200-day moving average of $33.50.
Orbotech (NASDAQ:ORBK) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $205.20 million. During the same period last year, the firm posted $0.60 EPS. Orbotech’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Orbotech will post $2.80 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the stock. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Orbotech during the second quarter valued at $23,095,000. Victory Capital Management Inc. boosted 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 valued at $28,338,000 after buying an additional 627,098 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted 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 valued at $45,925,000 after buying an additional 621,478 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Orbotech by 79.1% in the first quarter. Ameriprise Financial Inc. now owns 1,070,472 shares of the electronics maker’s stock valued at $34,523,000 after buying an additional 472,680 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of Orbotech during the second quarter valued at approximately $7,992,000. 70.66% of the stock is currently owned by institutional investors and hedge funds.
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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