Orbotech Ltd. (ORBK) Cut to “Hold” at BidaskClub

Orbotech Ltd. (NASDAQ:ORBK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other analysts also recently commented on the company. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $42.00 price objective on shares of Orbotech in a research report on Tuesday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Orbotech in a research report on Monday, May 22nd. Cowen and Company restated an “outperform” rating on shares of Orbotech in a research report on Monday, May 22nd. Standpoint Research downgraded Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, Zacks Investment Research downgraded Orbotech from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Orbotech currently has a consensus rating of “Buy” and a consensus target price of $36.86.

Analyst Recommendations for Orbotech (NASDAQ:ORBK)

Shares of Orbotech (NASDAQ:ORBK) traded down 1.61% during trading on Tuesday, hitting $33.57. The company’s stock had a trading volume of 111,145 shares. The company has a market capitalization of $1.61 billion, a P/E ratio of 20.32 and a beta of 0.59. The firm’s 50 day moving average is $35.36 and its 200-day moving average is $33.04. Orbotech has a 1-year low of $23.74 and a 1-year high of $37.48.

Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data on Wednesday, May 3rd. The electronics maker reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Orbotech had a return on equity of 14.87% and a net margin of 9.78%. The company had revenue of $187.60 million during the quarter, compared to the consensus estimate of $186.87 million. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts forecast that Orbotech will post $2.69 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Origin Asset Management LLP increased its position in Orbotech by 1,477.5% in the fourth quarter. Origin Asset Management LLP now owns 202,646 shares of the electronics maker’s stock valued at $6,770,000 after buying an additional 189,800 shares during the period. Teachers Advisors LLC bought a new position in Orbotech during the fourth quarter valued at approximately $5,914,000. State Street Corp increased its position in Orbotech by 28.5% in the fourth quarter. State Street Corp now owns 288,657 shares of the electronics maker’s stock valued at $9,642,000 after buying an additional 64,074 shares during the period. Penserra Capital Management LLC increased its position in Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock valued at $218,000 after buying an additional 2,907 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Orbotech by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,616 shares of the electronics maker’s stock valued at $119,000 after buying an additional 968 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

About Orbotech

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ORBK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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