Zacks Investment Research Downgrades Orbotech (ORBK) to Sell

Orbotech (NASDAQ:ORBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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) “

A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Orbotech from a “sell” rating to a “strong sell” rating in a report on Saturday, September 15th. ValuEngine lowered shares of Orbotech from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.00.

NASDAQ ORBK opened at $59.24 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.06 and a current ratio of 3.88. Orbotech has a 12-month low of $44.14 and a 12-month high of $65.75. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.08 and a beta of 0.74.

Orbotech (NASDAQ:ORBK) last released its quarterly earnings results on Wednesday, November 7th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.11). Orbotech had a return on equity of 16.36% and a net margin of 14.62%. The firm had revenue of $261.23 million during the quarter, compared to analysts’ expectations of $262.49 million. Sell-side analysts anticipate that Orbotech will post 3.15 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alpine Associates Management Inc. grew its holdings in shares of Orbotech by 273.7% during the third quarter. Alpine Associates Management Inc. now owns 1,947,434 shares of the electronics maker’s stock valued at $115,755,000 after buying an additional 1,426,350 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Orbotech by 182.0% during the second quarter. Millennium Management LLC now owns 882,010 shares of the electronics maker’s stock valued at $54,508,000 after buying an additional 569,263 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Orbotech by 2.3% during the third quarter. BlackRock Inc. now owns 818,332 shares of the electronics maker’s stock valued at $48,642,000 after buying an additional 18,251 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Orbotech by 8.9% during the third quarter. Wells Fargo & Company MN now owns 698,990 shares of the electronics maker’s stock valued at $41,548,000 after buying an additional 56,975 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Orbotech by 43.2% during the third quarter. Morgan Stanley now owns 541,251 shares of the electronics maker’s stock valued at $32,172,000 after buying an additional 163,248 shares during the last quarter. 71.08% of the stock is currently owned by hedge funds and other institutional investors.

About Orbotech

Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.

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