Zacks Investment Research Lowers Brooks Automation, Inc. (BRKS) to Hold
Zacks Investment Research cut shares of Brooks Automation, Inc. (NASDAQ:BRKS) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “Brooks Automation is a leading worldwide provider of automation, vacuum, and instrumentation solutions for multiple markets including semiconductor manufacturing, life sciences, and clean energy. Their technologies, engineering competencies, and global service capabilities provide customers speed to market, and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, they have been a leading partner to the global semiconductor manufacturing market and through product development initiatives and strategic business acquisitions; they have expanded their reach to meet the needs of customers in the life sciences industry, analytical & research markets, and clean energy solutions. “
Several other equities research analysts have also issued reports on the company. Citigroup Inc. lifted their price objective on Brooks Automation from $31.00 to $34.00 and gave the company a buy rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Brooks Automation from $32.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Needham & Company LLC reissued a hold rating on shares of Brooks Automation in a research note on Friday, October 6th. Janney Montgomery Scott lifted their price objective on Brooks Automation from $30.00 to $35.00 and gave the company a buy rating in a research note on Thursday, September 14th. Finally, ValuEngine lowered Brooks Automation from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $31.57.
Shares of Brooks Automation (NASDAQ BRKS) opened at $26.29 on Friday. The stock has a market capitalization of $1,835.91, a price-to-earnings ratio of 23.90 and a beta of 1.06. Brooks Automation has a 52 week low of $14.18 and a 52 week high of $34.77.
Brooks Automation (NASDAQ:BRKS) last posted its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.06. The company had revenue of $181.88 million during the quarter, compared to analyst estimates of $174.66 million. Brooks Automation had a return on equity of 13.40% and a net margin of 9.04%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. equities analysts anticipate that Brooks Automation will post 1.42 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. Brooks Automation’s payout ratio is 44.44%.
In other Brooks Automation news, VP David Jarzynka sold 2,476 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $33.80, for a total transaction of $83,688.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William T. Montone sold 2,257 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $33.80, for a total value of $76,286.60. The disclosure for this sale can be found here. Insiders have sold 19,784 shares of company stock worth $668,699 in the last 90 days. Company insiders own 2.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in Brooks Automation by 101.4% during the third quarter. Wells Fargo & Company MN now owns 589,589 shares of the semiconductor company’s stock valued at $17,899,000 after purchasing an additional 296,797 shares in the last quarter. JPMorgan Chase & Co. raised its position in Brooks Automation by 89.9% during the third quarter. JPMorgan Chase & Co. now owns 53,982 shares of the semiconductor company’s stock valued at $1,623,000 after purchasing an additional 25,556 shares in the last quarter. Legal & General Group Plc raised its position in Brooks Automation by 6.9% during the third quarter. Legal & General Group Plc now owns 142,626 shares of the semiconductor company’s stock valued at $4,328,000 after purchasing an additional 9,209 shares in the last quarter. American International Group Inc. raised its position in Brooks Automation by 5.8% during the third quarter. American International Group Inc. now owns 54,591 shares of the semiconductor company’s stock valued at $1,657,000 after purchasing an additional 2,969 shares in the last quarter. Finally, Icon Advisers Inc. Co. purchased a new position in shares of Brooks Automation in the third quarter worth about $3,977,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
Brooks Automation Company Profile
Brooks Automation, Inc is a provider of automation and cryogenic solutions for various applications and markets. The Company operates through two segments: Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers critical automated transport, vacuum and contamination controls solutions and services.
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