Orbotech Ltd. (NASDAQ:ORBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $41.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.63% from the stock’s current price.

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 issued reports on ORBK. Cowen and Company increased their target price on shares of Orbotech from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating on shares of Orbotech in a research note on Wednesday, May 3rd. Standpoint Research lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Orbotech in a research note on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $42.00 target price on shares of Orbotech in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $39.14.

Shares of Orbotech (NASDAQ ORBK) opened at 36.73 on Wednesday. Orbotech has a 52-week low of $26.69 and a 52-week high of $37.84. The company has a 50-day moving average of $34.92 and a 200 day moving average of $33.57. The company has a market capitalization of $1.76 billion, a PE ratio of 19.72 and a beta of 0.80.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in Orbotech during the first quarter worth $879,000. Wells Fargo & Company MN raised its position in Orbotech by 12.8% in the first quarter. Wells Fargo & Company MN now owns 855,903 shares of the electronics maker’s stock worth $27,602,000 after buying an additional 96,828 shares during the period. Rubric Capital Management LP acquired a new position in Orbotech during the first quarter worth $3,057,000. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Orbotech during the first quarter worth $452,000. Finally, Investment Counselors of Maryland LLC raised its position in Orbotech by 15.2% in the first quarter. Investment Counselors of Maryland LLC now owns 722,098 shares of the electronics maker’s stock worth $23,288,000 after buying an additional 95,300 shares during the period. 70.66% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Orbotech (NASDAQ:ORBK)

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