Zacks: Brokerages Expect Orbotech Ltd (ORBK) Will Announce Quarterly Sales of $250.20 Million

Wall Street brokerages predict that Orbotech Ltd (NASDAQ:ORBK) will post $250.20 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Orbotech’s earnings. The lowest sales estimate is $250.00 million and the highest is $250.80 million. Orbotech reported sales of $215.04 million during the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The business is expected to issue its next quarterly earnings report on Wednesday, February 14th.

On average, analysts expect that Orbotech will report full year sales of $250.20 million for the current year, with estimates ranging from $893.98 million to $894.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $976.06 million per share, with estimates ranging from $965.48 million to $985.10 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Orbotech.

ORBK has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on shares of Orbotech from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Barclays 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. BidaskClub cut shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Oppenheimer upped their target price on shares of Orbotech from $42.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $51.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP increased its position in shares of Orbotech by 106.3% during the 3rd quarter. FNY Partners Fund LP now owns 3,000 shares of the electronics maker’s stock valued at $126,000 after purchasing an additional 1,546 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Orbotech during the 3rd quarter valued at about $135,000. Legal & General Group Plc increased its position in shares of Orbotech by 293.4% during the 2nd quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock valued at $141,000 after purchasing an additional 3,227 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Orbotech during the 3rd quarter valued at about $210,000. Finally, Advisor Group Inc. increased its position in shares of Orbotech by 325.1% during the 3rd quarter. Advisor Group Inc. now owns 5,454 shares of the electronics maker’s stock valued at $230,000 after purchasing an additional 4,171 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

Orbotech (NASDAQ ORBK) traded up $0.76 on Friday, reaching $50.49. 288,100 shares of the company’s stock traded hands, compared to its average volume of 244,650. The company has a quick ratio of 2.71, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. The company has a market cap of $2,440.00, a PE ratio of 24.04, a P/E/G ratio of 0.84 and a beta of 0.80. Orbotech has a 1-year low of $28.01 and a 1-year high of $56.44.

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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.

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