Prudential Financial Inc. Buys New Position in Orbotech Ltd. (ORBK)
Prudential Financial Inc. bought a new stake in Orbotech Ltd. (NASDAQ:ORBK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 54,300 shares of the electronics maker’s stock, valued at approximately $2,292,000. Prudential Financial Inc. owned approximately 0.11% of Orbotech as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in Orbotech by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock valued at $76,755,000 after acquiring an additional 30,700 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of 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 purchasing an additional 577,756 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of 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 purchasing an additional 622,014 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Orbotech by 12.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock worth $41,967,000 after purchasing an additional 147,031 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. increased its position in shares of Orbotech by 81.3% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,283,306 shares of the electronics maker’s stock worth $54,168,000 after purchasing an additional 575,307 shares during the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.
Orbotech Ltd. (NASDAQ:ORBK) opened at $49.01 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.71 and a current ratio of 3.37. The firm has a market capitalization of $2,379.85, a P/E ratio of 19.33, a P/E/G ratio of 0.94 and a beta of 0.80. Orbotech Ltd. has a 1-year low of $28.01 and a 1-year high of $56.44.
Several research firms have weighed in on ORBK. Jefferies Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Orbotech in a research report on Tuesday, September 12th. BidaskClub raised Orbotech from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, August 9th. ValuEngine lowered Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Barclays boosted their price target on Orbotech to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.00.
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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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