Zacks Investment Research cut shares of Orbotech Ltd. (NASDAQ:ORBK) from a buy rating to a hold rating in a research note released on Tuesday 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) “

Several other research analysts have also recently commented on the company. Jefferies Group LLC reissued a buy rating and set a $42.00 price target on shares of Orbotech in a research report on Tuesday, September 12th. Stifel Nicolaus began 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. BidaskClub raised Orbotech from a sell rating to a hold rating in a research report on Saturday, August 12th. Supply Chain Market Research LLC increased their price target on Orbotech from $37.00 to $43.00 and gave the company an outperform rating in a research report on Monday, August 7th. Finally, Needham & Company LLC reissued 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $42.25.

Shares of Orbotech (ORBK) traded up 0.69% on Tuesday, hitting $42.21. The company had a trading volume of 30,336 shares. The firm has a market capitalization of $2.02 billion, a P/E ratio of 22.66 and a beta of 0.78. The firm has a 50 day moving average of $38.90 and a 200-day moving average of $35.04. Orbotech has a 12-month low of $26.83 and a 12-month high of $43.45.

Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, beating the 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 firm had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Orbotech will post $2.80 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Gs Investments Inc. acquired a new stake in Orbotech during the second quarter worth approximately $5,393,000. Lord Abbett & CO. LLC grew its position in Orbotech by 12.9% during the second quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock worth $41,967,000 after buying an additional 147,031 shares in the last quarter. Verition Fund Management LLC grew its position in Orbotech by 12.2% during the second quarter. Verition Fund Management LLC now owns 47,539 shares of the electronics maker’s stock worth $1,551,000 after buying an additional 5,186 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Orbotech by 8.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 349,316 shares of the electronics maker’s stock worth $11,395,000 after buying an additional 26,316 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Orbotech by 313.3% during the second quarter. Cubist Systematic Strategies LLC now owns 37,472 shares of the electronics maker’s stock worth $1,222,000 after buying an additional 28,406 shares in the last quarter. 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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