B. Riley Raises Brooks Automation (BRKS) Price Target to $50.00

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Brooks Automation (NASDAQ:BRKS) had its price target hoisted by B. Riley from $40.00 to $50.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on BRKS. ValuEngine upgraded shares of Brooks Automation from a hold rating to a buy rating in a report on Tuesday, August 28th. BidaskClub upgraded shares of Brooks Automation from a hold rating to a buy rating in a report on Friday, August 31st. Citigroup upped their target price on shares of Brooks Automation from $31.00 to $37.00 and gave the stock a buy rating in a report on Friday, July 13th. Finally, Zacks Investment Research lowered shares of Brooks Automation from a buy rating to a hold rating in a report on Monday, August 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $39.14.

BRKS opened at $36.11 on Tuesday. The company has a current ratio of 3.29, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27. Brooks Automation has a fifty-two week low of $21.75 and a fifty-two week high of $39.75. The stock has a market capitalization of $2.56 billion, a P/E ratio of 23.99 and a beta of 1.03.

Brooks Automation (NASDAQ:BRKS) last posted its earnings results on Monday, August 6th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. Brooks Automation had a net margin of 15.40% and a return on equity of 16.28%. The company had revenue of $223.48 million for the quarter, compared to analyst estimates of $218.98 million. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. equities analysts forecast that Brooks Automation will post 1.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, September 6th. Brooks Automation’s payout ratio is 32.26%.

In other Brooks Automation news, CFO Lindon G. Robertson sold 13,042 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $39.00, for a total value of $508,638.00. Following the completion of the sale, the chief financial officer now directly owns 136,642 shares of the company’s stock, valued at approximately $5,329,038. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason Joseph sold 1,965 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $38.00, for a total transaction of $74,670.00. Following the completion of the sale, the vice president now directly owns 86,868 shares of the company’s stock, valued at $3,300,984. The disclosure for this sale can be found here. Insiders sold a total of 50,292 shares of company stock valued at $1,806,168 over the last ninety days. 2.36% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of BRKS. Fox Run Management L.L.C. grew its position in shares of Brooks Automation by 11.8% during the 2nd quarter. Fox Run Management L.L.C. now owns 15,430 shares of the semiconductor company’s stock valued at $503,000 after acquiring an additional 1,626 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of Brooks Automation by 6.0% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 30,780 shares of the semiconductor company’s stock valued at $834,000 after acquiring an additional 1,730 shares during the period. Paradigm Capital Management Inc. NY grew its position in shares of Brooks Automation by 3.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 65,400 shares of the semiconductor company’s stock valued at $2,134,000 after acquiring an additional 1,950 shares during the period. Comerica Bank grew its position in shares of Brooks Automation by 2.9% during the 1st quarter. Comerica Bank now owns 74,308 shares of the semiconductor company’s stock valued at $1,933,000 after acquiring an additional 2,125 shares during the period. Finally, OppenheimerFunds Inc. grew its position in shares of Brooks Automation by 0.3% during the 1st quarter. OppenheimerFunds Inc. now owns 866,416 shares of the semiconductor company’s stock valued at $23,463,000 after acquiring an additional 2,599 shares during the period. 94.64% of the stock is owned by institutional investors and hedge funds.

About Brooks Automation

Brooks Automation, Inc provides automation and cryogenic solutions for various applications and markets. It operates in two segments, Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers critical automated transport, vacuum, and contamination controls solutions and services.

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