Brooks Automation (NASDAQ:BRKS) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks.com reports.
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 equities research analysts have also recently issued reports on BRKS. BidaskClub upgraded shares of Brooks Automation from a "hold" rating to a "buy" rating in a research report on Friday, June 19th. Citigroup raised their price objective on shares of Brooks Automation from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. ValuEngine upgraded shares of Brooks Automation from a "hold" rating to a "buy" rating in a research report on Friday, May 1st. Needham & Company LLC initiated coverage on shares of Brooks Automation in a research report on Tuesday, June 2nd. They issued a "hold" rating for the company. Finally, B. Riley raised their price objective on shares of Brooks Automation from $50.00 to $55.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. The stock currently has an average rating of "Hold" and a consensus target price of $45.00.
Shares of Brooks Automation stock traded up $0.71 during mid-day trading on Tuesday, reaching $42.89. 475,800 shares of the stock were exchanged, compared to its average volume of 568,409. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 7.04 and a beta of 1.48. The company has a current ratio of 2.91, a quick ratio of 2.36 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $41.10 and a 200 day simple moving average of $37.80. Brooks Automation has a fifty-two week low of $21.19 and a fifty-two week high of $50.35.
Brooks Automation (NASDAQ:BRKS) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.25. The business had revenue of $220.23 million during the quarter, compared to analysts' expectations of $219.27 million. Brooks Automation had a net margin of 52.96% and a return on equity of 6.41%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. On average, research analysts predict that Brooks Automation will post 0.88 EPS for the current fiscal year.
In other news, SVP Jason Joseph sold 6,000 shares of Brooks Automation stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $37.50, for a total transaction of $225,000.00. Following the completion of the sale, the senior vice president now owns 93,698 shares in the company, valued at approximately $3,513,675. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David C. Gray sold 4,000 shares of Brooks Automation stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $42.50, for a total transaction of $170,000.00. Following the sale, the insider now owns 79,375 shares of the company's stock, valued at approximately $3,373,437.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,132 shares of company stock valued at $1,135,148. 2.66% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in Brooks Automation by 4.6% during the 4th quarter. Amalgamated Bank now owns 13,481 shares of the semiconductor company's stock worth $566,000 after acquiring an additional 595 shares during the last quarter. Voce Capital Management LLC boosted its stake in Brooks Automation by 112.8% during the 1st quarter. Voce Capital Management LLC now owns 105,158 shares of the semiconductor company's stock worth $3,207,000 after acquiring an additional 55,752 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Brooks Automation by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 60,592 shares of the semiconductor company's stock worth $1,848,000 after acquiring an additional 3,025 shares during the last quarter. Blair William & Co. IL bought a new position in Brooks Automation during the 1st quarter worth approximately $280,000. Finally, Nuveen Asset Management LLC boosted its stake in Brooks Automation by 20.4% during the 1st quarter. Nuveen Asset Management LLC now owns 1,085,057 shares of the semiconductor company's stock worth $33,094,000 after acquiring an additional 183,814 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.
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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