Orbotech (ORBK) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Orbotech (NASDAQ:ORBK) from a buy rating to a hold rating in a research report sent to investors on Tuesday, June 5th.

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 research firms have also recently issued reports on ORBK. BidaskClub raised shares of Orbotech from a buy rating to a strong-buy rating in a research report on Tuesday, June 5th. Lake Street Capital lowered shares of Orbotech from a buy rating to a hold rating in a report on Tuesday, March 20th. Jefferies Financial Group lowered shares of Orbotech from a buy rating to a hold rating and set a $41.00 price objective for the company. in a research note on Tuesday, March 20th. Needham & Company LLC downgraded shares of Orbotech from a buy rating to a hold rating in a research report on Monday, March 19th. Finally, Stifel Nicolaus downgraded shares of Orbotech to a hold rating and set a $69.00 price target on the stock. in a report on Monday, March 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $58.38.

NASDAQ:ORBK opened at $64.32 on Tuesday. Orbotech has a 52 week low of $32.25 and a 52 week high of $65.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.84 and a current ratio of 3.58. The company has a market cap of $3.12 billion, a PE ratio of 23.47, a PEG ratio of 1.03 and a beta of 0.62.

Orbotech (NASDAQ:ORBK) last announced its quarterly earnings results on Tuesday, May 8th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. Orbotech had a net margin of 15.33% and a return on equity of 17.28%. The company had revenue of $250.55 million for the quarter, compared to the consensus estimate of $242.38 million. equities analysts predict that Orbotech will post 3.33 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new stake in Orbotech during the first quarter worth approximately $656,000. Allianz Asset Management GmbH increased its holdings in shares of Orbotech by 31.7% in the 1st quarter. Allianz Asset Management GmbH now owns 360,075 shares of the electronics maker’s stock valued at $22,389,000 after acquiring an additional 86,718 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Orbotech in the 1st quarter valued at $3,109,000. Alkeon Capital Management LLC grew its position in Orbotech by 16.2% in the 1st quarter. Alkeon Capital Management LLC now owns 580,215 shares of the electronics maker’s stock valued at $36,078,000 after buying an additional 81,067 shares during the last quarter. Finally, PointState Capital LP purchased a new position in Orbotech in the 1st quarter valued at $2,450,000. 72.23% of the stock is currently owned by institutional investors.

Orbotech Company Profile

Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.

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