Zacks Investment Research cut shares of Orbotech Ltd. (NASDAQ:ORBK) from a buy rating to a hold rating in a report issued on Tuesday.

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 also recently commented on ORBK. Standpoint Research downgraded shares of Orbotech from a buy rating to a hold rating in a research note on Monday, May 22nd. Cowen and Company reaffirmed an outperform rating on shares of Orbotech in a research note on Monday, May 22nd. Needham & Company LLC reaffirmed a buy rating and issued a $38.00 price target on shares of Orbotech in a research note on Monday, May 22nd. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $42.00 price target on shares of Orbotech in a research note on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Orbotech from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $42.25.

Orbotech (ORBK) opened at 43.12 on Tuesday. The company’s 50 day moving average is $38.90 and its 200 day moving average is $35.04. Orbotech has a 12 month low of $26.83 and a 12 month high of $43.45. The stock has a market cap of $2.07 billion, a PE ratio of 23.15 and a beta of 0.78.

Orbotech (NASDAQ:ORBK) last released 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 firm had revenue of $210.66 million during 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%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. On average, analysts anticipate that Orbotech will post $2.80 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Malaga Cove Capital LLC increased its position in Orbotech by 1.7% during the 2nd quarter. Malaga Cove Capital LLC now owns 18,371 shares of the electronics maker’s stock valued at $599,000 after purchasing an additional 300 shares during the period. Callahan Advisors LLC increased its position in Orbotech by 1.4% during the 2nd quarter. Callahan Advisors LLC now owns 49,460 shares of the electronics maker’s stock valued at $1,613,000 after purchasing an additional 685 shares during the period. Strategic Global Advisors LLC increased its position in Orbotech by 2.8% during the 2nd quarter. Strategic Global Advisors LLC now owns 29,670 shares of the electronics maker’s stock valued at $968,000 after purchasing an additional 800 shares during the period. Oppenheimer & Co. Inc. increased its position in Orbotech by 5.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,835 shares of the electronics maker’s stock valued at $549,000 after purchasing an additional 864 shares during the period. Finally, Renaissance Group LLC increased its position in Orbotech by 8.5% during the 2nd quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock valued at $452,000 after purchasing an additional 1,082 shares during the period. 69.87% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Orbotech (NASDAQ:ORBK)

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