First Trust Advisors LP purchased a new stake in Orbotech Ltd (NASDAQ:ORBK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,348 shares of the electronics maker’s stock, valued at approximately $701,000.
A number of other hedge funds also recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in Orbotech by 30.3% in the second quarter. Wells Fargo & Company MN now owns 642,015 shares of the electronics maker’s stock valued at $39,676,000 after acquiring an additional 149,286 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Orbotech by 6.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 611,387 shares of the electronics maker’s stock valued at $37,784,000 after acquiring an additional 34,341 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Orbotech by 25.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,008 shares of the electronics maker’s stock valued at $371,000 after acquiring an additional 1,225 shares during the last quarter. Whittier Trust Co. boosted its holdings in Orbotech by 4.5% in the second quarter. Whittier Trust Co. now owns 51,374 shares of the electronics maker’s stock valued at $3,174,000 after acquiring an additional 2,221 shares during the last quarter. Finally, Kassirer Asset Management Corp boosted its holdings in Orbotech by 116.7% in the second quarter. Kassirer Asset Management Corp now owns 65,000 shares of the electronics maker’s stock valued at $4,017,000 after acquiring an additional 35,000 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
ORBK has been the topic of several analyst reports. Zacks Investment Research cut Orbotech from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. BidaskClub cut Orbotech from a “sell” rating to a “strong sell” rating in a report on Saturday, September 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $60.43.
Shares of Orbotech stock traded up $0.12 on Friday, reaching $55.46. 368,088 shares of the company’s stock were exchanged, compared to its average volume of 459,705. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.03 and a beta of 0.70. Orbotech Ltd has a 52 week low of $42.77 and a 52 week high of $65.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.80 and a current ratio of 3.52.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, August 1st. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $267.50 million for the quarter, compared to analysts’ expectations of $258.51 million. Orbotech had a return on equity of 17.77% and a net margin of 15.56%. Orbotech’s revenue was up 27.0% compared to the same quarter last year. On average, equities research analysts forecast that Orbotech Ltd will post 3.3 EPS for the current year.
Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.
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