Orbotech Ltd. (ORBK) Given New $62.00 Price Target at Stifel Nicolaus
Orbotech Ltd. (NASDAQ:ORBK) had its target price increased by Stifel Nicolaus from $52.00 to $62.00 in a research report report published on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the electronics maker’s stock.
ORBK has been the subject of several other research reports. Zacks Investment Research raised shares of Orbotech from a hold rating to a buy rating and set a $45.00 target price for the company in a research note on Wednesday, September 6th. BidaskClub downgraded shares of Orbotech from a buy rating to a hold rating in a research note on Thursday, July 27th. Barclays PLC upped their target price on shares of Orbotech to $60.00 and gave the company an overweight rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price (up previously from $38.00) on shares of Orbotech in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $51.00.
Shares of Orbotech (NASDAQ:ORBK) traded up $0.33 during trading hours on Tuesday, reaching $52.20. 482,000 shares of the company’s stock traded hands, compared to its average volume of 379,638. Orbotech has a 1 year low of $28.01 and a 1 year high of $53.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 2.71. The company has a market capitalization of $2,484.76, a P/E ratio of 20.18, a PEG ratio of 0.98 and a beta of 0.76.
Hedge funds have recently modified their holdings of the company. Callahan Advisors LLC increased its position in shares of Orbotech by 10.5% during the third quarter. Callahan Advisors LLC now owns 54,655 shares of the electronics maker’s stock worth $2,307,000 after acquiring an additional 5,195 shares in the last quarter. ETF Managers Group LLC bought a new stake in shares of Orbotech during the second quarter worth $470,000. Lockheed Martin Investment Management Co. bought a new stake in shares of Orbotech during the second quarter worth $1,093,000. AHL Partners LLP bought a new stake in shares of Orbotech during the second quarter worth $4,557,000. Finally, Renaissance Group LLC increased its position in shares of Orbotech by 8.5% during the second quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock worth $452,000 after acquiring an additional 1,082 shares in the last quarter. 70.24% of the stock is 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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