Brooks Automation (NASDAQ:BRKS) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Brooks Automation (NASDAQ:BRKS) from a buy rating to a hold rating in a report released on Monday morning, 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. “

Several other brokerages also recently weighed in on BRKS. Stifel Nicolaus increased their price target on Western Digital from $48.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, April 30th. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $39.71.

Shares of NASDAQ BRKS opened at $38.25 on Monday. The company has a current ratio of 2.86, a quick ratio of 2.25 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average is $38.17. Brooks Automation has a 1-year low of $23.02 and a 1-year high of $42.17. The firm has a market capitalization of $2.81 billion, a P/E ratio of 40.57 and a beta of 1.38.

Brooks Automation (NASDAQ:BRKS) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Brooks Automation had a return on equity of 9.45% and a net margin of 6.68%. The firm had revenue of $198.00 million during the quarter, compared to the consensus estimate of $193.24 million. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, research analysts expect that Brooks Automation will post 0.76 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, June 6th. Brooks Automation’s payout ratio is 62.50%.

In other Brooks Automation news, SVP William T. Montone sold 4,539 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $34.54, for a total value of $156,777.06. Following the completion of the transaction, the senior vice president now owns 113,809 shares in the company, valued at $3,930,962.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Jarzynka sold 2,577 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $38.95, for a total value of $100,374.15. Following the completion of the transaction, the vice president now owns 92,894 shares of the company’s stock, valued at approximately $3,618,221.30. The disclosure for this sale can be found here. Insiders sold 24,163 shares of company stock valued at $893,669 in the last quarter. 2.45% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its holdings in shares of Brooks Automation by 29.6% during the 4th quarter. California Public Employees Retirement System now owns 156,501 shares of the semiconductor company’s stock worth $4,097,000 after acquiring an additional 35,700 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Brooks Automation by 22.5% during the 4th quarter. New York State Common Retirement Fund now owns 182,498 shares of the semiconductor company’s stock worth $4,778,000 after acquiring an additional 33,570 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Brooks Automation by 2.2% during the 4th quarter. BlackRock Inc. now owns 10,354,003 shares of the semiconductor company’s stock worth $271,068,000 after acquiring an additional 223,060 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Brooks Automation by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,084,225 shares of the semiconductor company’s stock worth $54,565,000 after acquiring an additional 130,772 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in shares of Brooks Automation by 5.7% during the 4th quarter. Texas Permanent School Fund now owns 46,969 shares of the semiconductor company’s stock worth $1,230,000 after acquiring an additional 2,523 shares during the last quarter. Hedge funds and other 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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