Brooks Automation (NASDAQ:BRKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has a $43.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.34% from the stock’s previous close.
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 research analysts have also recently issued reports on BRKS. B. Riley set a $47.00 target price on shares of Brooks Automation and gave the company a “buy” rating in a research note on Wednesday, September 18th. Citigroup cut shares of Brooks Automation from a “buy” rating to a “neutral” rating and cut their target price for the company from $44.00 to $42.00 in a research note on Monday, September 23rd. ValuEngine cut shares of Brooks Automation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of Brooks Automation in a research note on Friday, August 23rd. Finally, Stifel Nicolaus set a $43.00 target price on shares of Brooks Automation and gave the company a “buy” rating in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.33.
Brooks Automation (NASDAQ:BRKS) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Brooks Automation had a net margin of 4.78% and a return on equity of 6.89%. The company had revenue of $203.88 million during the quarter, compared to analysts’ expectations of $205.14 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Brooks Automation’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, analysts forecast that Brooks Automation will post 0.76 EPS for the current fiscal year.
In related news, insider David Pietrantoni sold 3,333 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $41.00, for a total value of $136,653.00. Following the completion of the sale, the insider now owns 35,768 shares of the company’s stock, valued at $1,466,488. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.45% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC increased its holdings in shares of Brooks Automation by 75.0% in the second quarter. Advisory Services Network LLC now owns 1,444 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 619 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Brooks Automation by 6,038.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,903 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 1,872 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Brooks Automation by 213.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,076 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,414 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Brooks Automation in the second quarter valued at approximately $81,000. Finally, Marshall Wace North America L.P. increased its holdings 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 purchasing an additional 850 shares in the last quarter.
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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