Stifel Nicolaus Initiates Coverage on Orbotech Ltd. (ORBK)
Research analysts at Stifel Nicolaus initiated coverage on shares of Orbotech Ltd. (NASDAQ:ORBK) in a research report issued on Thursday. The brokerage set a “buy” rating and a $46.00 price target on the electronics maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 14.29% from the company’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Saturday, August 19th. BidaskClub upgraded Orbotech from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Supply Chain Market Research LLC lifted their price target on Orbotech from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target (up previously from $38.00) on shares of Orbotech in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Orbotech presently has an average rating of “Buy” and an average target price of $40.00.
Orbotech (NASDAQ:ORBK) opened at 40.25 on Thursday. The firm has a 50-day moving average price of $37.13 and a 200-day moving average price of $34.09. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 21.60 and a beta of 0.77. Orbotech has a 1-year low of $26.69 and a 1-year high of $40.33.
Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.08. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The company had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts expect that Orbotech will post $2.80 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC purchased a new stake in Orbotech during the fourth quarter valued at $5,914,000. State of New Jersey Common Pension Fund D increased its position in shares of Orbotech by 68.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 39,536 shares of the electronics maker’s stock valued at $1,275,000 after buying an additional 16,056 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Orbotech during the first quarter valued at approximately $452,000. Wells Fargo & Company MN increased its position in shares of Orbotech by 12.8% in the first quarter. Wells Fargo & Company MN now owns 855,903 shares of the electronics maker’s stock valued at $27,602,000 after buying an additional 96,828 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Orbotech during the first quarter valued at approximately $273,000. 69.62% of the stock is currently owned by institutional investors.
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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