US Bancorp DE continued to hold its position in Orbotech Ltd. (NASDAQ:ORBK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,178 shares of the electronics maker’s stock at the end of the second quarter. US Bancorp DE owned about 0.42% of Orbotech worth $6,562,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in shares of Orbotech by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,616 shares of the electronics maker’s stock valued at $119,000 after buying an additional 968 shares during the period. Greenwood Capital Associates LLC bought a new position in shares of Orbotech during the first quarter valued at $207,000. Penserra Capital Management LLC increased 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. increased 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 $242,000. Institutional investors own 71.63% of the company’s stock.
Shares of Orbotech Ltd. (NASDAQ:ORBK) traded up 0.60% during trading on Friday, reaching $37.19. The company had a trading volume of 125,837 shares. Orbotech Ltd. has a 12 month low of $26.69 and a 12 month high of $38.25. The stock has a market capitalization of $1.78 billion, a PE ratio of 19.96 and a beta of 0.80. The stock’s 50-day moving average price is $36.00 and its 200-day moving average price is $33.73.
Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The firm had revenue of $210.66 million during 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 firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities analysts forecast that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.
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Several brokerages have weighed in on ORBK. Zacks Investment Research downgraded Orbotech from a “buy” rating to a “hold” rating in a research note on Friday. Supply Chain Market Research LLC lifted their target price on Orbotech from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. BidaskClub raised Orbotech from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of Orbotech in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Orbotech in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average 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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