Zacks Investment Research downgraded shares of Orbotech Ltd. (NASDAQ:ORBK) from a buy rating to a hold rating in a research note published on Wednesday morning.

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) “

ORBK has been the subject of several other reports. BidaskClub downgraded Orbotech from a buy rating to a hold rating in a research note on Thursday, July 27th. Stifel Nicolaus assumed coverage on Orbotech in a research report on Thursday, August 31st. They set a buy rating and a $46.00 price target for the company. Needham & Company LLC reiterated a buy rating and set a $40.00 price target (up from $38.00) on shares of Orbotech in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a buy rating and set a $42.00 price target on shares of Orbotech in a research report on Tuesday, September 12th. Finally, Supply Chain Market Research LLC boosted their price target on Orbotech from $37.00 to $43.00 and gave the stock an outperform rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $41.88.

Shares of Orbotech (ORBK) traded up 0.33% during midday trading on Wednesday, reaching $42.39. 161,083 shares of the company’s stock were exchanged. The company’s 50-day moving average is $40.81 and its 200-day moving average is $36.02. The stock has a market cap of $2.03 billion, a P/E ratio of 22.75 and a beta of 0.79. Orbotech has a one year low of $26.83 and a one year high of $43.45.

Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business had revenue of $210.66 million during the quarter, compared to the consensus estimate of $205.20 million. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Equities analysts expect that Orbotech will post $2.80 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of ORBK. Swiss National Bank increased its position in shares of Orbotech by 3.3% during the first quarter. Swiss National Bank now owns 74,100 shares of the electronics maker’s stock worth $2,390,000 after purchasing an additional 2,400 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Orbotech during the first quarter worth approximately $1,159,000. Envestnet Asset Management Inc. increased its position in shares of Orbotech by 40.9% during the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 1,479 shares in the last quarter. Clinton Group Inc. purchased a new stake in shares of Orbotech during the first quarter worth approximately $301,000. Finally, Credit Agricole S A increased its position in shares of Orbotech by 2,378.3% during the first quarter. Credit Agricole S A now owns 48,351 shares of the electronics maker’s stock worth $1,560,000 after purchasing an additional 46,400 shares in the last quarter. Hedge funds and other institutional investors own 69.87% 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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