Orbotech’s (ORBK) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Orbotech Ltd. (NASDAQ:ORBK) in a research note issued to investors on Tuesday morning. Jefferies Group LLC currently has a $42.00 target price on the electronics maker’s stock.
Other research analysts have also recently issued research reports about the stock. 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. BidaskClub cut shares of Orbotech from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Orbotech from a hold rating to a buy rating and set a $41.00 target price on the stock in a report on Wednesday, August 9th. Stifel Nicolaus initiated coverage on shares of Orbotech in a report on Thursday, August 31st. They issued a buy rating and a $46.00 target price on the stock. Finally, Standpoint Research cut shares of Orbotech from a buy rating to a hold rating in a report on Monday, May 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $42.13.
Orbotech (NASDAQ ORBK) traded down 0.40% during trading on Tuesday, reaching $42.58. 155,334 shares of the company’s stock traded hands. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 22.86 and a beta of 0.78. Orbotech has a 52-week low of $26.83 and a 52-week high of $43.07. The company’s 50 day moving average is $38.26 and its 200-day moving average is $34.70.
Orbotech (NASDAQ:ORBK) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (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 firm had revenue of $210.66 million for the quarter, compared to analysts’ expectations of $205.20 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Orbotech will post $2.80 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC lifted its stake in Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock worth $218,000 after acquiring an additional 2,907 shares during the period. Envestnet Asset Management Inc. lifted its position in Orbotech by 40.9% during the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock valued at $165,000 after buying an additional 1,479 shares during the period. Credit Agricole S A lifted its position in Orbotech by 2,378.3% during the first quarter. Credit Agricole S A now owns 48,351 shares of the electronics maker’s stock valued at $1,560,000 after buying an additional 46,400 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in Orbotech during the second quarter valued at $1,093,000. Finally, Greenwood Capital Associates LLC purchased a new position in Orbotech during the first quarter valued at $207,000. 69.92% of the stock is owned by institutional investors.
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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