244,995 Shares in Orbotech Ltd. (ORBK) Acquired by Monarch Partners Asset Management LLC
Monarch Partners Asset Management LLC purchased a new stake in Orbotech Ltd. (NASDAQ:ORBK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 244,995 shares of the electronics maker’s stock, valued at approximately $7,992,000.
A number of other institutional investors also recently modified their holdings of ORBK. Envestnet Asset Management Inc. raised its position in shares of Orbotech by 40.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock valued at $165,000 after buying an additional 1,479 shares during the period. Greenwood Capital Associates LLC bought a new position in shares of Orbotech during the first quarter valued at approximately $207,000. Penserra Capital Management LLC raised its position in shares of Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock valued at $218,000 after buying an additional 2,907 shares during the period. Cutter & CO Brokerage Inc. raised its position in shares of Orbotech by 10.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 7,292 shares of the electronics maker’s stock valued at $235,000 after buying an additional 683 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in shares of Orbotech during the first quarter valued at approximately $242,000. 70.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Orbotech Ltd. (NASDAQ:ORBK) opened at 37.15 on Friday. The stock has a 50 day moving average of $35.41 and a 200 day moving average of $33.67. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 19.94 and a beta of 0.80. Orbotech Ltd. has a 52-week low of $26.69 and a 52-week high of $37.84.
Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.08. The firm had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Equities analysts predict that Orbotech Ltd. will post $2.80 EPS for the current fiscal year.
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Several brokerages recently commented on ORBK. BidaskClub lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Standpoint Research lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Cowen and Company increased their price objective on shares of Orbotech from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Orbotech in a research report on Monday, May 22nd. Finally, Zacks Investment Research raised shares of Orbotech from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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