Brigantine Advisors Maintains a 'Hold' on Orbotech Ltd. (ORBK); Revising Estimates After Preliminary 2010-11 Financials Presented at Conference
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Price: $10.22 +0.49%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Brigantine Advisors maintains a 'Hold' on Orbotech Ltd. (NASDAQ: ORBK).
Brigantine analyst says, "After a great capex run in 2010, we saw a LCD equipment digestion period occur towards the end of the year, evident by bookings declines from equipment companies Ulvac, Tokyo Electron and Applied Materials (Nasdaq: AMAT)(Hold). Looking to 2011, we believe that China will be the main focus of order activity from domestic and non domestic manufacturers. As a leading yield management company, we believe Orbotech is well positioned to benefit from these fab projects. Based on its dominant market positioning, growing PCB (printed circuit board) revenues from direct imaging (DI) systems and new solar revenue opportunity, Orbotech’s fundamentals are strong, in our opinion. At the same time, we believe that most of China’s LCD momentum has been priced into shares."
"We are maintaining our 2010 estimates of $526.3M in revenues and EPS of $1.03. Reflecting Orbotech’s preliminary guidance and lower estimated amortization, we are raising our 2011 estimates to $560.4M in revenues and EPS of $1.29, from $498.5M and $0.79, respectively."
For more ratings news on Orbotech Ltd. click here and for the rating history of Orbotech Ltd. click here.
Shares of Orbotech Ltd. closed at $14.25 yesterday, with a 52 week range of $8.57-$14.30.
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Brigantine analyst says, "After a great capex run in 2010, we saw a LCD equipment digestion period occur towards the end of the year, evident by bookings declines from equipment companies Ulvac, Tokyo Electron and Applied Materials (Nasdaq: AMAT)(Hold). Looking to 2011, we believe that China will be the main focus of order activity from domestic and non domestic manufacturers. As a leading yield management company, we believe Orbotech is well positioned to benefit from these fab projects. Based on its dominant market positioning, growing PCB (printed circuit board) revenues from direct imaging (DI) systems and new solar revenue opportunity, Orbotech’s fundamentals are strong, in our opinion. At the same time, we believe that most of China’s LCD momentum has been priced into shares."
"We are maintaining our 2010 estimates of $526.3M in revenues and EPS of $1.03. Reflecting Orbotech’s preliminary guidance and lower estimated amortization, we are raising our 2011 estimates to $560.4M in revenues and EPS of $1.29, from $498.5M and $0.79, respectively."
For more ratings news on Orbotech Ltd. click here and for the rating history of Orbotech Ltd. click here.
Shares of Orbotech Ltd. closed at $14.25 yesterday, with a 52 week range of $8.57-$14.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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