Zacks Investment Research cut shares of Orbotech (NASDAQ:ORBK) from a buy rating to a hold rating in a report published 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) “

ORBK has been the subject of several other reports. Stifel Nicolaus downgraded Orbotech to a hold rating and set a $69.00 target price for the company. in a research note on Monday, March 19th. Lake Street Capital downgraded Orbotech from a buy rating to a hold rating in a research note on Tuesday, March 20th. BidaskClub upgraded Orbotech from a hold rating to a buy rating in a research note on Saturday, May 5th. Needham & Company LLC downgraded Orbotech from a buy rating to a hold rating in a research note on Monday, March 19th. Finally, Jefferies Group downgraded Orbotech from a buy rating to a hold rating and set a $41.00 target price for the company. in a research note on Tuesday, March 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Orbotech has a consensus rating of Buy and a consensus price target of $58.25.

Shares of Orbotech opened at $64.04 on Tuesday, according to MarketBeat Ratings. Orbotech has a 12-month low of $32.25 and a 12-month high of $65.75. The firm has a market capitalization of $3.10 billion, a P/E ratio of 23.37, a P/E/G ratio of 1.02 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.58 and a quick ratio of 2.84.

Orbotech (NASDAQ:ORBK) last announced its earnings results on Tuesday, May 8th. The electronics maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. The company had revenue of $250.55 million during the quarter, compared to the consensus estimate of $242.38 million. Orbotech had a return on equity of 17.28% and a net margin of 15.33%. analysts forecast that Orbotech will post 3.33 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Orbotech during the first quarter worth about $205,000. Buckley Wealth Management LLC bought a new position in shares of Orbotech during the fourth quarter worth about $206,000. Ifrah Financial Services Inc. bought a new position in shares of Orbotech during the first quarter worth about $212,000. Wellington Shields Capital Management LLC bought a new position in shares of Orbotech during the first quarter worth about $224,000. Finally, Cullen Capital Management LLC bought a new position in shares of Orbotech during the fourth quarter worth about $233,000. Institutional investors own 73.34% of the company’s stock.

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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Analyst Recommendations for Orbotech (NASDAQ:ORBK)

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