Verition Fund Management LLC grew its position in shares of Orbotech Ltd. (NASDAQ:ORBK) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,539 shares of the electronics maker’s stock after acquiring an additional 5,186 shares during the quarter. Verition Fund Management LLC owned 0.10% of Orbotech worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in Orbotech by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock worth $76,755,000 after acquiring an additional 30,700 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Orbotech by 40.6% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,001,779 shares of the electronics maker’s stock worth $65,298,000 after acquiring an additional 577,756 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Orbotech by 58.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock worth $55,209,000 after acquiring an additional 622,014 shares during the last quarter. FMR LLC boosted its holdings in Orbotech by 8.8% during the 1st quarter. FMR LLC now owns 1,490,733 shares of the electronics maker’s stock worth $48,076,000 after acquiring an additional 120,871 shares during the last quarter. Finally, Ion Asset Management Ltd. boosted its holdings in Orbotech by 18.3% during the 2nd quarter. Ion Asset Management Ltd. now owns 1,061,686 shares of the electronics maker’s stock worth $34,632,000 after acquiring an additional 164,303 shares during the last quarter. 69.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Orbotech in a report on Tuesday, September 12th. Finally, Stifel Nicolaus assumed coverage on shares of Orbotech in a report on Thursday, August 31st. They set a “buy” rating and a $46.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $41.88.
Orbotech Ltd. (NASDAQ ORBK) traded down 0.05% during trading on Friday, reaching $43.39. 32,019 shares of the company’s stock were exchanged. Orbotech Ltd. has a 12 month low of $26.83 and a 12 month high of $43.87. The stock has a market cap of $2.08 billion, a PE ratio of 23.29 and a beta of 0.79. The firm has a 50 day moving average of $41.41 and a 200-day moving average of $36.33.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.59 by $0.08. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The company had revenue of $210.66 million for the quarter, compared to analysts’ expectations of $205.20 million. During the same period last year, the firm posted $0.60 earnings per share. Orbotech’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.
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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