Orbotech Ltd. (ORBK) Price Target Raised to $60.00 at Barclays PLC
Orbotech Ltd. (NASDAQ:ORBK) had its target price lifted by analysts at Barclays PLC to $60.00 in a report released on Thursday. The firm presently has an “overweight” rating on the electronics maker’s stock. Barclays PLC’s price target would indicate a potential upside of 14.07% from the stock’s current price.
ORBK has been the subject of a number of other reports. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, September 6th. BidaskClub lowered Orbotech from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus assumed coverage on Orbotech in a report on Thursday, August 31st. They set a “buy” rating and a $46.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of Orbotech in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $51.00.
Orbotech (ORBK) traded down $0.09 during midday trading on Thursday, hitting $52.60. The stock had a trading volume of 803,690 shares, compared to its average volume of 278,063. The company has a quick ratio of 2.71, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. The company has a market cap of $2,570.00, a P/E ratio of 18.94, a P/E/G ratio of 0.94 and a beta of 0.76. Orbotech has a 52-week low of $28.01 and a 52-week high of $53.87.
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Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in Orbotech by 293.4% in the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 3,227 shares during the period. Airain ltd purchased a new stake in Orbotech in the second quarter worth $208,000. Advisor Group Inc. increased its stake in Orbotech by 325.1% in the third quarter. Advisor Group Inc. now owns 5,454 shares of the electronics maker’s stock worth $230,000 after purchasing an additional 4,171 shares during the period. OppenheimerFunds Inc. purchased a new stake in Orbotech in the first quarter worth $242,000. Finally, Quantbot Technologies LP purchased a new stake in Orbotech in the second quarter worth $252,000. Institutional investors and hedge funds own 70.24% of the company’s stock.
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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