Intrinsic value of Orbotech - ORBK

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$32.93

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$32.93

 
Intrinsic value

$78.43

 
Up/down potential

+138%

 
Rating

str. buy

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ORBK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.04
  14.40
  13.46
  12.61
  11.85
  11.17
  10.55
  10.00
  9.50
  9.05
  8.64
  8.28
  7.95
  7.65
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
  5.75
  5.67
  5.61
  5.55
  5.49
  5.44
Revenue, $m
  806
  922
  1,046
  1,178
  1,318
  1,465
  1,619
  1,781
  1,951
  2,127
  2,311
  2,502
  2,701
  2,908
  3,123
  3,346
  3,578
  3,819
  4,070
  4,331
  4,602
  4,885
  5,180
  5,487
  5,807
  6,141
  6,489
  6,853
  7,233
  7,630
  8,045
Variable operating expenses, $m
 
  536
  606
  680
  758
  841
  928
  1,019
  1,114
  1,213
  1,317
  1,407
  1,518
  1,635
  1,755
  1,881
  2,011
  2,147
  2,288
  2,435
  2,587
  2,746
  2,912
  3,084
  3,264
  3,452
  3,648
  3,852
  4,066
  4,289
  4,523
Fixed operating expenses, $m
 
  229
  234
  240
  246
  252
  259
  265
  272
  278
  285
  293
  300
  307
  315
  323
  331
  339
  348
  356
  365
  375
  384
  394
  403
  413
  424
  434
  445
  456
  468
Total operating expenses, $m
  689
  765
  840
  920
  1,004
  1,093
  1,187
  1,284
  1,386
  1,491
  1,602
  1,700
  1,818
  1,942
  2,070
  2,204
  2,342
  2,486
  2,636
  2,791
  2,952
  3,121
  3,296
  3,478
  3,667
  3,865
  4,072
  4,286
  4,511
  4,745
  4,991
Operating income, $m
  117
  158
  206
  258
  313
  371
  433
  497
  565
  635
  709
  803
  883
  966
  1,052
  1,142
  1,236
  1,333
  1,434
  1,540
  1,650
  1,764
  1,884
  2,009
  2,139
  2,275
  2,417
  2,566
  2,722
  2,884
  3,055
EBITDA, $m
  162
  197
  249
  304
  362
  424
  489
  557
  629
  703
  781
  862
  947
  1,035
  1,126
  1,221
  1,320
  1,423
  1,531
  1,643
  1,759
  1,880
  2,007
  2,139
  2,277
  2,421
  2,571
  2,729
  2,893
  3,065
  3,246
Interest expense (income), $m
  7
  3
  5
  8
  10
  12
  15
  18
  21
  24
  27
  31
  34
  38
  41
  45
  49
  54
  58
  63
  67
  72
  77
  83
  88
  94
  100
  106
  113
  120
  127
Earnings before tax, $m
  96
  154
  201
  251
  303
  359
  418
  479
  544
  611
  682
  772
  849
  928
  1,011
  1,097
  1,186
  1,279
  1,376
  1,477
  1,582
  1,692
  1,807
  1,926
  2,051
  2,181
  2,317
  2,460
  2,609
  2,764
  2,928
Tax expense, $m
  16
  42
  54
  68
  82
  97
  113
  129
  147
  165
  184
  209
  229
  251
  273
  296
  320
  345
  372
  399
  427
  457
  488
  520
  554
  589
  626
  664
  704
  746
  790
Net income, $m
  79
  113
  147
  183
  221
  262
  305
  350
  397
  446
  498
  564
  620
  678
  738
  801
  866
  934
  1,005
  1,078
  1,155
  1,235
  1,319
  1,406
  1,497
  1,592
  1,692
  1,795
  1,904
  2,018
  2,137

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  217
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,103
  1,013
  1,150
  1,295
  1,448
  1,610
  1,780
  1,958
  2,143
  2,337
  2,539
  2,750
  2,968
  3,195
  3,431
  3,677
  3,932
  4,197
  4,473
  4,759
  5,058
  5,368
  5,692
  6,029
  6,381
  6,748
  7,131
  7,531
  7,948
  8,385
  8,841
Adjusted assets (=assets-cash), $m
  886
  1,013
  1,150
  1,295
  1,448
  1,610
  1,780
  1,958
  2,143
  2,337
  2,539
  2,750
  2,968
  3,195
  3,431
  3,677
  3,932
  4,197
  4,473
  4,759
  5,058
  5,368
  5,692
  6,029
  6,381
  6,748
  7,131
  7,531
  7,948
  8,385
  8,841
Revenue / Adjusted assets
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
Average production assets, $m
  128
  147
  166
  187
  210
  233
  258
  283
  310
  338
  367
  398
  429
  462
  496
  532
  569
  607
  647
  689
  732
  777
  824
  872
  923
  976
  1,032
  1,090
  1,150
  1,213
  1,279
Working capital, $m
  504
  347
  393
  443
  495
  551
  609
  670
  733
  800
  869
  941
  1,016
  1,093
  1,174
  1,258
  1,345
  1,436
  1,530
  1,628
  1,731
  1,837
  1,948
  2,063
  2,183
  2,309
  2,440
  2,577
  2,720
  2,869
  3,025
Total debt, $m
  88
  120
  171
  226
  283
  344
  408
  475
  545
  618
  694
  773
  855
  940
  1,029
  1,121
  1,217
  1,317
  1,421
  1,528
  1,641
  1,757
  1,879
  2,006
  2,138
  2,276
  2,420
  2,570
  2,728
  2,892
  3,063
Total liabilities, $m
  349
  381
  432
  487
  544
  605
  669
  736
  806
  879
  955
  1,034
  1,116
  1,201
  1,290
  1,382
  1,478
  1,578
  1,682
  1,789
  1,902
  2,018
  2,140
  2,267
  2,399
  2,537
  2,681
  2,831
  2,989
  3,153
  3,324
Total equity, $m
  754
  632
  717
  808
  904
  1,005
  1,111
  1,222
  1,338
  1,459
  1,585
  1,716
  1,852
  1,994
  2,141
  2,294
  2,453
  2,619
  2,791
  2,970
  3,156
  3,350
  3,552
  3,762
  3,982
  4,211
  4,450
  4,699
  4,960
  5,232
  5,517
Total liabilities and equity, $m
  1,103
  1,013
  1,149
  1,295
  1,448
  1,610
  1,780
  1,958
  2,144
  2,338
  2,540
  2,750
  2,968
  3,195
  3,431
  3,676
  3,931
  4,197
  4,473
  4,759
  5,058
  5,368
  5,692
  6,029
  6,381
  6,748
  7,131
  7,530
  7,949
  8,385
  8,841
Debt-to-equity ratio
  0.117
  0.190
  0.240
  0.280
  0.310
  0.340
  0.370
  0.390
  0.410
  0.420
  0.440
  0.450
  0.460
  0.470
  0.480
  0.490
  0.500
  0.500
  0.510
  0.510
  0.520
  0.520
  0.530
  0.530
  0.540
  0.540
  0.540
  0.550
  0.550
  0.550
  0.560
Adjusted equity ratio
  0.606
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624
  0.624

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  79
  113
  147
  183
  221
  262
  305
  350
  397
  446
  498
  564
  620
  678
  738
  801
  866
  934
  1,005
  1,078
  1,155
  1,235
  1,319
  1,406
  1,497
  1,592
  1,692
  1,795
  1,904
  2,018
  2,137
Depreciation, amort., depletion, $m
  45
  39
  42
  46
  49
  52
  56
  60
  64
  68
  72
  59
  64
  69
  74
  79
  85
  91
  97
  103
  109
  116
  123
  130
  138
  146
  154
  163
  172
  181
  191
Funds from operations, $m
  78
  152
  189
  228
  270
  314
  361
  410
  461
  514
  570
  623
  684
  747
  812
  880
  951
  1,025
  1,101
  1,181
  1,264
  1,351
  1,442
  1,536
  1,635
  1,738
  1,846
  1,958
  2,076
  2,199
  2,328
Change in working capital, $m
  -30
  44
  47
  50
  53
  55
  58
  61
  64
  66
  69
  72
  75
  78
  81
  84
  87
  91
  94
  98
  102
  106
  111
  115
  120
  126
  131
  137
  143
  149
  156
Cash from operations, $m
  108
  127
  142
  179
  218
  259
  303
  349
  397
  448
  501
  551
  609
  669
  731
  796
  864
  934
  1,007
  1,083
  1,162
  1,245
  1,331
  1,421
  1,515
  1,612
  1,715
  1,821
  1,933
  2,050
  2,172
Maintenance CAPEX, $m
  0
  -19
  -22
  -25
  -28
  -31
  -35
  -38
  -42
  -46
  -50
  -55
  -59
  -64
  -69
  -74
  -79
  -85
  -91
  -97
  -103
  -109
  -116
  -123
  -130
  -138
  -146
  -154
  -163
  -172
  -181
New CAPEX, $m
  -24
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
Cash from investing activities, $m
  -10
  -38
  -42
  -46
  -50
  -54
  -60
  -64
  -69
  -74
  -79
  -85
  -91
  -97
  -103
  -110
  -116
  -123
  -131
  -138
  -146
  -154
  -163
  -172
  -181
  -191
  -201
  -212
  -223
  -235
  -247
Free cash flow, $m
  98
  89
  101
  133
  168
  204
  244
  285
  328
  374
  421
  466
  518
  572
  628
  686
  747
  811
  876
  945
  1,016
  1,091
  1,168
  1,249
  1,333
  1,421
  1,513
  1,609
  1,710
  1,815
  1,925
Issuance/(repayment) of debt, $m
  -152
  48
  51
  55
  58
  61
  64
  67
  70
  73
  76
  79
  82
  85
  89
  92
  96
  100
  104
  108
  112
  117
  122
  127
  132
  138
  144
  150
  157
  164
  172
Issuance/(repurchase) of shares, $m
  107
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -44
  48
  51
  55
  58
  61
  64
  67
  70
  73
  76
  79
  82
  85
  89
  92
  96
  100
  104
  108
  112
  117
  122
  127
  132
  138
  144
  150
  157
  164
  172
Total cash flow (excl. dividends), $m
  54
  137
  152
  188
  225
  265
  307
  352
  398
  446
  497
  545
  600
  657
  717
  779
  843
  910
  980
  1,053
  1,129
  1,208
  1,290
  1,376
  1,466
  1,559
  1,657
  1,760
  1,867
  1,979
  2,096
Retained Cash Flow (-), $m
  -185
  -79
  -85
  -90
  -96
  -101
  -106
  -111
  -116
  -121
  -126
  -131
  -136
  -142
  -147
  -153
  -159
  -165
  -172
  -179
  -186
  -194
  -202
  -210
  -219
  -229
  -239
  -250
  -261
  -272
  -285
Prev. year cash balance distribution, $m
 
  201
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  259
  67
  97
  130
  164
  201
  241
  282
  325
  371
  414
  464
  515
  569
  626
  684
  745
  808
  874
  942
  1,014
  1,088
  1,165
  1,246
  1,330
  1,418
  1,510
  1,606
  1,707
  1,812
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  248
  61
  84
  107
  127
  146
  163
  176
  187
  195
  197
  198
  196
  191
  184
  174
  162
  149
  135
  120
  105
  90
  76
  63
  52
  41
  32
  25
  19
  14
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), and semiconductor devices (SDs) in China, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software. The company designs, develops, manufactures, markets, and services direct imaging, automated optical inspection (AOI), automated optical shaping, via formation laser drilling tools, digital inkjet printing, and other production systems used in the manufacture of PCBs; AOI, test, repair, and process monitoring systems for use in the manufacture of FPDs; and etch, physical vapor deposition, and chemical vapor deposition equipment used in the manufacture of SDs, such as micro-electro-mechanical systems, advanced semiconductor packaging, power and radio frequency devices, and high brightness light emitting diode devices. It is also involved in the research, development, and marketing of products for the deposition of thin film coating of various materials on crystalline silicon photovoltaic wafers for solar energy panels. In addition, the company develops and markets check processing and healthcare payments automation solutions to banks, financial, and other payment processing institutions and healthcare providers through system integrators and solution providers. The company was formerly known as Optrotech Ltd. and changed its name to Orbotech Ltd. as a result of its merger with Orbot Systems Ltd. in October 1992. Orbotech Ltd. was founded in 1981 and is headquartered in Yavne, Israel.

FINANCIAL RATIOS  of  Orbotech (ORBK)

Valuation Ratios
P/E Ratio 19.9
Price to Sales 2
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 14.6
Price to Free Cash Flow 18.7
Growth Rates
Sales Growth Rate 7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 26.3%
Cap. Spend. - 3 Yr. Gr. Rate 13%
Financial Strength
Quick Ratio 14
Current Ratio 0.1
LT Debt to Equity 9.5%
Total Debt to Equity 11.7%
Interest Coverage 15
Management Effectiveness
Return On Assets 7.9%
Ret/ On Assets - 3 Yr. Avg. 6.4%
Return On Total Capital 9.6%
Ret/ On T. Cap. - 3 Yr. Avg. 7.4%
Return On Equity 11.9%
Return On Equity - 3 Yr. Avg. 10%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 46.2%
Gross Margin - 3 Yr. Avg. 44.9%
EBITDA Margin 18.4%
EBITDA Margin - 3 Yr. Avg. 16.2%
Operating Margin 14.5%
Oper. Margin - 3 Yr. Avg. 11.8%
Pre-Tax Margin 11.9%
Pre-Tax Margin - 3 Yr. Avg. 9.3%
Net Profit Margin 9.8%
Net Profit Margin - 3 Yr. Avg. 7.8%
Effective Tax Rate 16.7%
Eff/ Tax Rate - 3 Yr. Avg. 14.7%
Payout Ratio 0%

ORBK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ORBK stock intrinsic value calculation we used $806 million for the last fiscal year's total revenue generated by Orbotech. The default revenue input number comes from 2016 income statement of Orbotech. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ORBK stock valuation model: a) initial revenue growth rate of 14.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ORBK is calculated based on our internal credit rating of Orbotech, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Orbotech.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ORBK stock the variable cost ratio is equal to 58.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $223 million in the base year in the intrinsic value calculation for ORBK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.4% for Orbotech.

Corporate tax rate of 27% is the nominal tax rate for Orbotech. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ORBK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ORBK are equal to 15.9%.

Life of production assets of 6.7 years is the average useful life of capital assets used in Orbotech operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ORBK is equal to 37.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $754 million for Orbotech - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 47.752 million for Orbotech is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Orbotech at the current share price and the inputted number of shares is $1.6 billion.


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COMPANY NEWS

▶ What Makes Orbotech (ORBK) a Strong Sell?   [Feb-28-17 08:47AM  Zacks]
▶ Why Shares of Orbotech Ltd. Are Down Today   [11:48AM  at Motley Fool]
▶ 3 Cheap Growth Stocks You Can Buy Right Now   [Jun-24-16 01:42PM  at Motley Fool]
▶ Fridays Market Movers & Shakers: BP, Gevo, Orbotech, More   [Jun-10-16 01:08PM  at Insider Monkey]
▶ [$$] Four Picks to Play Higher Chip Spending   [Apr-12-16 12:14PM  at Barrons.com]
▶ Orbotech: A Stock Price Case Study (ORBK)   [Mar-11-16 06:00PM  at Investopedia]
Stock chart of ORBK Financial statements of ORBK
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