Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Orbotech Ltd. (NASDAQ:ORBK) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,316 shares of the electronics maker’s stock after purchasing an additional 26,316 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.73% of Orbotech worth $11,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Malaga Cove Capital LLC raised its position in shares of Orbotech by 1.7% during the second quarter. Malaga Cove Capital LLC now owns 18,371 shares of the electronics maker’s stock worth $599,000 after purchasing an additional 300 shares during the period. Callahan Advisors LLC raised its position in shares of Orbotech by 1.4% during the second quarter. Callahan Advisors LLC now owns 49,460 shares of the electronics maker’s stock worth $1,613,000 after purchasing an additional 685 shares during the period. Strategic Global Advisors LLC raised its position in shares of Orbotech by 2.8% during the second quarter. Strategic Global Advisors LLC now owns 29,670 shares of the electronics maker’s stock worth $968,000 after purchasing an additional 800 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Orbotech by 5.4% during the second quarter. Oppenheimer & Co. Inc. now owns 16,835 shares of the electronics maker’s stock worth $549,000 after purchasing an additional 864 shares during the period. Finally, Renaissance Group LLC raised its position in shares of Orbotech by 8.5% during the second quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 1,082 shares during the period. 69.87% of the stock is currently owned by institutional investors.

Shares of Orbotech Ltd. (NASDAQ:ORBK) traded up 0.33% during midday trading on Friday, reaching $42.39. The company had a trading volume of 161,083 shares. Orbotech Ltd. has a 12-month low of $26.83 and a 12-month high of $43.45. The stock has a market capitalization of $2.03 billion, a PE ratio of 22.75 and a beta of 0.79. The stock’s 50 day moving average is $40.81 and its 200-day moving average is $36.02.

Orbotech (NASDAQ:ORBK) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.08. The business had revenue of $210.66 million for 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 company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts predict that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.

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ORBK has been the topic of a number of research analyst reports. Zacks Investment Research lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Supply Chain Market Research LLC raised their price target on Orbotech from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Stifel Nicolaus initiated coverage on Orbotech in a research report on Thursday, August 31st. They set a “buy” rating and a $46.00 price target on the stock. BidaskClub lowered Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of Orbotech in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.88.

About Orbotech

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.

Institutional Ownership by Quarter for Orbotech (NASDAQ:ORBK)

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