Arrowstreet Capital Limited Partnership trimmed its position in Orbotech Ltd. (NASDAQ:ORBK) by 72.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,192 shares of the electronics maker’s stock after selling 227,303 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.18% of Orbotech worth $2,779,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Orbotech by 293.4% in the 2nd quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock valued at $141,000 after purchasing an additional 3,227 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Orbotech by 40.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock valued at $165,000 after purchasing an additional 1,479 shares during the period. Airain ltd bought a new stake in shares of Orbotech in the 2nd quarter valued at about $208,000. OppenheimerFunds Inc. bought a new stake in shares of Orbotech in the 1st quarter valued at about $242,000. Finally, Quantbot Technologies LP bought a new stake in shares of Orbotech in the 2nd quarter valued at about $252,000. 69.12% of the stock is currently owned by institutional investors.
Shares of Orbotech Ltd. (NASDAQ:ORBK) traded down 0.80% during trading on Friday, reaching $43.65. 271,358 shares of the company traded hands. The stock has a market capitalization of $2.09 billion, a PE ratio of 23.43 and a beta of 0.79. The firm’s 50-day moving average is $42.59 and its 200-day moving average is $37.14. Orbotech Ltd. has a 12-month low of $26.83 and a 12-month high of $44.90.
Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The firm had revenue of $210.66 million during the quarter, compared to analyst estimates of $205.20 million. During the same period last year, the firm posted $0.60 earnings per share. Orbotech’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.
A number of brokerages recently commented on ORBK. Zacks Investment Research upgraded shares of Orbotech from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, September 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Orbotech in a research note on Tuesday, September 12th. Stifel Nicolaus assumed coverage on shares of Orbotech in a research note on Thursday, August 31st. They issued a “buy” rating and a $46.00 price target on the stock. Finally, BidaskClub lowered shares of Orbotech from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.88.
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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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