Needham & Company Downgrades Orbotech Ltd. (ORBK) to Hold after Lower Guidance

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Needham & Company downgraded Orbotech Ltd. (NASDAQ: ORBK) from Buy to Hold after the company revised expectations.

The firm said while expense reduction could provide upside to revised EPS estiamtes, the demand outlook will likely remain unsettled.

For an analyst ratings summary and ratings history on Orbotech Ltd. click here. For more ratings news on Orbotech Ltd. click here.

Shares of Orbotech Ltd. closed at $8.39 yesterday, with a 52 week range of $6.43-$11.85.

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