Royce & Associates LP trimmed its holdings in Orbotech Ltd (NASDAQ:ORBK) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,908 shares of the electronics maker’s stock after selling 157,355 shares during the quarter. Royce & Associates LP’s holdings in Orbotech were worth $24,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Callahan Advisors LLC lifted its stake in shares of Orbotech by 10.5% in the 3rd quarter. Callahan Advisors LLC now owns 54,655 shares of the electronics maker’s stock valued at $2,307,000 after purchasing an additional 5,195 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Orbotech by 929.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,146,419 shares of the electronics maker’s stock valued at $48,196,000 after purchasing an additional 1,035,068 shares during the period. Prudential Financial Inc. acquired a new position in shares of Orbotech in the 3rd quarter valued at about $2,292,000. Royal Bank of Canada lifted its stake in shares of Orbotech by 126.7% in the 2nd quarter. Royal Bank of Canada now owns 20,638 shares of the electronics maker’s stock valued at $674,000 after purchasing an additional 11,535 shares during the period. Finally, Invictus RG acquired a new position in shares of Orbotech in the 3rd quarter valued at about $397,000. 68.53% of the stock is currently owned by institutional investors.
ORBK has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Orbotech to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Oppenheimer upped their price target on Orbotech from $42.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised Orbotech from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, November 7th. Needham & Company LLC upped their price target on Orbotech from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Finally, Stifel Nicolaus upped their price target on Orbotech from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $52.10.
Orbotech Ltd (NASDAQ ORBK) opened at $54.06 on Wednesday. Orbotech Ltd has a 52 week low of $28.36 and a 52 week high of $57.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.70 and a current ratio of 3.37. The firm has a market capitalization of $2,559.49, a P/E ratio of 19.57, a P/E/G ratio of 0.88 and a beta of 0.75.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, February 14th. The electronics maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Orbotech had a return on equity of 15.98% and a net margin of 14.69%. The business had revenue of $256.90 million for the quarter, compared to the consensus estimate of $256.02 million. During the same period in the prior year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. analysts anticipate that Orbotech Ltd will post 3.25 earnings per share for the current year.
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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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