Analysts Offer Predictions for Orbotech Ltd’s Q3 2017 Earnings (NASDAQ:ORBK)

Orbotech Ltd (NASDAQ:ORBK) – Stock analysts at Jefferies Group increased their Q3 2017 earnings per share estimates for shares of Orbotech in a report issued on Wednesday. Jefferies Group analyst M. Lipacis now anticipates that the electronics maker will post earnings per share of $0.80 for the quarter, up from their prior estimate of $0.78. Jefferies Group currently has a “Buy” rating on the stock.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Orbotech in a research report on Monday, May 22nd. BidaskClub lowered Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised Orbotech from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Standpoint Research downgraded Orbotech from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $42.00 price target on shares of Orbotech in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Orbotech currently has an average rating of “Buy” and a consensus target price of $38.00.

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Shares of Orbotech (NASDAQ:ORBK) opened at 36.73 on Monday. The stock has a market capitalization of $1.76 billion, a PE ratio of 19.72 and a beta of 0.80. 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 price of $34.92 and a 200 day moving average price of $33.57.

Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The company had revenue of $210.66 million for the quarter, compared to analysts’ expectations of $205.20 million. Orbotech had a return on equity of 7.83% and a net margin of 7.88%. The firm’s revenue for the quarter 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.

Several hedge funds and other institutional investors have recently made changes to their positions in ORBK. Renaissance Group LLC increased its position in shares of Orbotech by 8.5% in the second quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock worth $452,000 after buying an additional 1,082 shares in the last quarter. Airain ltd bought a new position in shares of Orbotech during the second quarter worth about $208,000. Royce & Associates LP increased its position in shares of Orbotech by 39.3% in the second quarter. Royce & Associates LP now owns 915,243 shares of the electronics maker’s stock worth $29,855,000 after buying an additional 258,153 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Orbotech by 13.0% in the second quarter. Victory Capital Management Inc. now owns 992,925 shares of the electronics maker’s stock worth $32,390,000 after buying an additional 114,217 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. increased its position in shares of Orbotech by 14.5% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 585,887 shares of the electronics maker’s stock worth $19,112,000 after buying an additional 74,068 shares in the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.

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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