Orbotech (ORBK) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Orbotech (NASDAQ:ORBK) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Several other brokerages have also weighed in on ORBK. Needham & Company LLC lowered shares of Orbotech from a buy rating to a hold rating in a research report on Monday, March 19th. ValuEngine lowered shares of Orbotech from a buy rating to a hold rating in a research report on Thursday, January 18th. Lake Street Capital downgraded shares of Orbotech from a buy rating to a hold rating in a report on Tuesday, March 20th. Jefferies Group downgraded shares of Orbotech from a buy rating to a hold rating and set a $41.00 price target for the company. in a report on Tuesday, March 20th. Finally, Stifel Nicolaus downgraded shares of Orbotech to a hold rating and set a $69.00 price target for the company. in a report on Monday, March 19th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $54.44.

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Shares of Orbotech stock traded down $0.32 during trading on Thursday, hitting $58.12. 122,697 shares of the company’s stock traded hands, compared to its average volume of 602,065. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.70 and a current ratio of 3.37. Orbotech has a twelve month low of $30.27 and a twelve month high of $65.75. The firm has a market cap of $2,911.82, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.62.

Orbotech (NASDAQ:ORBK) last issued its earnings results on Wednesday, February 14th. The electronics maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Orbotech had a net margin of 14.69% and a return on equity of 15.98%. The business had revenue of $256.90 million for the quarter, compared to analyst estimates of $256.02 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. equities analysts forecast that Orbotech will post 3.3 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Invictus RG lifted its holdings in Orbotech by 47.6% during the 4th quarter. Invictus RG now owns 13,871 shares of the electronics maker’s stock valued at $697,000 after purchasing an additional 4,472 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Orbotech by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,642,800 shares of the electronics maker’s stock worth $132,774,000 after acquiring an additional 324,200 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Orbotech by 8.7% in the fourth quarter. Lazard Asset Management LLC now owns 413,540 shares of the electronics maker’s stock worth $20,776,000 after acquiring an additional 32,930 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Orbotech by 96.1% in the fourth quarter. Allianz Asset Management GmbH now owns 273,357 shares of the electronics maker’s stock worth $13,734,000 after acquiring an additional 133,926 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Orbotech by 0.8% in the fourth quarter. California Public Employees Retirement System now owns 190,803 shares of the electronics maker’s stock worth $9,586,000 after acquiring an additional 1,442 shares during the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.

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About Orbotech

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.

Analyst Recommendations for Orbotech (NASDAQ:ORBK)

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