Zacks Investment Research upgraded shares of Brooks Automation (NASDAQ:BRKS) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. They currently have $43.00 price target on the semiconductor company’s stock.
According to Zacks, “Brooks Automation is a leading worldwide provider of automation, vacuum, and instrumentation solutions for multiple markets including semiconductor manufacturing, life sciences, and clean energy. Their technologies, engineering competencies, and global service capabilities provide customers speed to market, and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, they have been a leading partner to the global semiconductor manufacturing market and through product development initiatives and strategic business acquisitions; they have expanded their reach to meet the needs of customers in the life sciences industry, analytical & research markets, and clean energy solutions. “
A number of other brokerages have also recently issued reports on BRKS. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. BidaskClub cut Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Finally, Stifel Nicolaus boosted their price objective on Western Digital from $48.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Brooks Automation currently has an average rating of Buy and an average target price of $39.71.
Shares of NASDAQ:BRKS opened at $39.50 on Wednesday. Brooks Automation has a 12-month low of $23.02 and a 12-month high of $42.17. The company has a market capitalization of $2.85 billion, a PE ratio of 41.15 and a beta of 1.38. The stock’s 50 day moving average price is $38.27. The company has a current ratio of 2.86, a quick ratio of 2.25 and a debt-to-equity ratio of 0.73.
Brooks Automation (NASDAQ:BRKS) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Brooks Automation had a return on equity of 9.45% and a net margin of 6.68%. The company had revenue of $198.00 million during the quarter, compared to analysts’ expectations of $193.24 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was up 26.1% on a year-over-year basis. On average, analysts forecast that Brooks Automation will post 0.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.10 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Brooks Automation’s payout ratio is 62.50%.
In other news, SVP William T. Montone sold 4,539 shares of Brooks Automation stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $34.54, for a total value of $156,777.06. Following the completion of the sale, the senior vice president now directly owns 113,809 shares in the company, valued at $3,930,962.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David Pietrantoni sold 8,000 shares of Brooks Automation stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $35.51, for a total transaction of $284,080.00. Following the completion of the sale, the insider now owns 43,101 shares of the company’s stock, valued at $1,530,516.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,163 shares of company stock valued at $893,669. 2.45% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRKS. Marshall Wace North America L.P. raised its position in shares of Brooks Automation by 43.7% in the first quarter. Marshall Wace North America L.P. now owns 2,794 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 850 shares in the last quarter. Hilton Capital Management LLC raised its position in Brooks Automation by 88.5% during the first quarter. Hilton Capital Management LLC now owns 5,654 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 2,654 shares in the last quarter. Starr International Co. Inc. acquired a new position in Brooks Automation during the first quarter valued at approximately $201,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Brooks Automation by 10.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,194 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 653 shares in the last quarter. Finally, Park National Corp OH acquired a new position in Brooks Automation during the second quarter valued at approximately $212,000. Institutional investors own 98.54% of the company’s stock.
Brooks Automation Company Profile
Brooks Automation, Inc provides automation and cryogenic solutions for various markets. The company operates in two segments, Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers mission-critical wafer automation and contamination controls solutions and services.
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