JPMorgan Chase & Co. increased its holdings in shares of Orbotech Ltd. (NASDAQ:ORBK) by 929.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,146,419 shares of the electronics maker’s stock after acquiring an additional 1,035,068 shares during the quarter. JPMorgan Chase & Co. owned about 2.39% of Orbotech worth $48,196,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Strategic Global Advisors LLC increased its holdings in shares of Orbotech by 2.8% during the 2nd quarter. Strategic Global Advisors LLC now owns 29,670 shares of the electronics maker’s stock worth $968,000 after acquiring an additional 800 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Orbotech by 5.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,835 shares of the electronics maker’s stock worth $549,000 after acquiring an additional 864 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of Orbotech by 7.7% during the 3rd quarter. Renaissance Group LLC now owns 14,938 shares of the electronics maker’s stock worth $631,000 after acquiring an additional 1,074 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Orbotech by 0.8% during the 2nd quarter. California Public Employees Retirement System now owns 180,500 shares of the electronics maker’s stock worth $5,888,000 after acquiring an additional 1,500 shares during the last quarter. Finally, FNY Partners Fund LP grew its holdings in Orbotech by 106.3% in the 3rd quarter. FNY Partners Fund LP now owns 3,000 shares of the electronics maker’s stock valued at $126,000 after buying an additional 1,546 shares in the last quarter. 66.17% of the stock is currently owned by institutional investors and hedge funds.
ORBK has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on Orbotech in a report on Thursday, August 31st. They issued a “buy” rating and a $46.00 price objective on the stock. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Saturday, August 19th. Jefferies Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Orbotech in a report on Tuesday, September 12th. Needham & Company LLC upped their price objective on Orbotech from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, ValuEngine lowered Orbotech from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.00.
Orbotech Ltd. (ORBK) opened at $49.86 on Friday. The company has a quick ratio of 2.71, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. Orbotech Ltd. has a 1-year low of $28.01 and a 1-year high of $56.44. The company has a market capitalization of $2,405.72, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 0.95 and a beta of 0.80.
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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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