Teachers Advisors LLC boosted its stake in Orbotech Ltd. (NASDAQ:ORBK) by 125.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 398,338 shares of the electronics maker’s stock after buying an additional 221,312 shares during the period. Teachers Advisors LLC owned approximately 0.83% of Orbotech worth $12,846,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ORBK. State Street Corp raised its stake in Orbotech by 28.5% in the fourth quarter. State Street Corp now owns 288,657 shares of the electronics maker’s stock worth $9,642,000 after buying an additional 64,074 shares during the period. Penserra Capital Management LLC raised its stake in Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock worth $218,000 after buying an additional 2,907 shares during the period. Envestnet Asset Management Inc. raised its stake in Orbotech by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,616 shares of the electronics maker’s stock worth $119,000 after buying an additional 968 shares during the period. Allianz Asset Management AG bought a new stake in Orbotech during the fourth quarter worth $266,000. Finally, Credit Agricole S A raised its stake in Orbotech by 2,378.3% in the first quarter. Credit Agricole S A now owns 48,351 shares of the electronics maker’s stock worth $1,560,000 after buying an additional 46,400 shares during the period. 71.63% of the stock is owned by institutional investors and hedge funds.
Orbotech Ltd. (ORBK) traded up 1.86% during trading on Wednesday, reaching $37.84. The company’s stock had a trading volume of 247,936 shares. Orbotech Ltd. has a 12-month low of $26.69 and a 12-month high of $38.25. The company has a market capitalization of $1.81 billion, a P/E ratio of 20.31 and a beta of 0.80. The firm’s 50-day moving average price is $35.63 and its 200 day moving average price is $33.67.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The firm had revenue of $210.66 million during the quarter, compared to analyst estimates of $205.20 million. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts predict that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on ORBK. BidaskClub raised Orbotech from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, August 9th. Supply Chain Market Research LLC increased their price objective on Orbotech from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective (up previously from $38.00) on shares of Orbotech in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $42.00 target price on shares of Orbotech in a report on Tuesday, May 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $39.14.
Orbotech Company Profile
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.
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