Orbotech Ltd. (ORBK) Position Cut by Aperio Group LLC
Aperio Group LLC cut its stake in shares of Orbotech Ltd. (NASDAQ:ORBK) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 35,718 shares of the electronics maker’s stock after selling 234 shares during the period. Aperio Group LLC’s holdings in Orbotech were worth $1,165,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ORBK. Envestnet Asset Management Inc. raised its position in 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 in the last quarter. Greenwood Capital Associates LLC acquired a new stake in Orbotech during the first quarter worth $207,000. 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 last quarter. Cutter & CO Brokerage Inc. raised its stake in Orbotech by 10.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 7,292 shares of the electronics maker’s stock worth $235,000 after buying an additional 683 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Orbotech during the first quarter worth $242,000. 71.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Orbotech Ltd. (NASDAQ:ORBK) traded down 0.86% during midday trading on Tuesday, hitting $36.90. 91,312 shares of the stock were exchanged. Orbotech Ltd. has a 52-week low of $26.69 and a 52-week high of $38.25. The firm’s 50 day moving average price is $35.52 and its 200-day moving average price is $33.66. The stock has a market cap of $1.77 billion, a P/E ratio of 19.81 and a beta of 0.80.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 EPS for the quarter, topping the Zacks’ 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 in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on ORBK shares. Zacks Investment Research downgraded shares of Orbotech from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Standpoint Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Cowen and Company boosted their price target 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. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $42.00 target price on shares of Orbotech in a research report on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Orbotech has a consensus 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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