Clark Capital Management Group Inc. Purchases Shares of 234,950 Orbotech (NASDAQ:ORBK)

Clark Capital Management Group Inc. bought a new position in shares of Orbotech (NASDAQ:ORBK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 234,950 shares of the electronics maker’s stock, valued at approximately $11,804,000. Clark Capital Management Group Inc. owned about 0.49% of Orbotech at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ORBK. Millennium Management LLC grew its position in Orbotech by 78.1% during the fourth quarter. Millennium Management LLC now owns 432,955 shares of the electronics maker’s stock valued at $21,752,000 after buying an additional 189,921 shares during the period. HBK Investments L P grew its position in Orbotech by 24.6% during the fourth quarter. HBK Investments L P now owns 38,546 shares of the electronics maker’s stock valued at $1,937,000 after buying an additional 7,611 shares during the period. Two Sigma Investments LP grew its position in Orbotech by 53.7% during the fourth quarter. Two Sigma Investments LP now owns 354,166 shares of the electronics maker’s stock valued at $17,793,000 after buying an additional 123,691 shares during the period. Two Sigma Advisers LP grew its position in Orbotech by 37.7% during the fourth quarter. Two Sigma Advisers LP now owns 412,394 shares of the electronics maker’s stock valued at $20,719,000 after buying an additional 112,939 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Orbotech by 167.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 50,470 shares of the electronics maker’s stock valued at $2,535,000 after buying an additional 31,625 shares during the period. 74.66% of the stock is owned by hedge funds and other institutional investors.

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Several analysts recently commented on ORBK shares. Lake Street Capital restated a “buy” rating and set a $62.00 price target (up previously from $52.00) on shares of Orbotech in a research report on Monday, January 22nd. BidaskClub upgraded shares of Orbotech from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. ValuEngine lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Zacks Investment Research lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Needham & Company LLC lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, March 19th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $54.44.

Shares of NASDAQ ORBK traded down $0.96 during trading on Friday, hitting $61.00. The company had a trading volume of 302,081 shares, compared to its average volume of 1,085,079. Orbotech has a fifty-two week low of $30.25 and a fifty-two week high of $65.75. The firm has a market cap of $3,002.44, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.00 and a beta of 0.62. The company has a quick ratio of 2.70, a current ratio of 3.37 and a debt-to-equity ratio of 0.06.

Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, February 14th. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Orbotech had a net margin of 14.69% and a return on equity of 15.98%. The business had revenue of $256.90 million for the quarter, compared to analyst estimates of $256.02 million. During the same quarter last year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. equities research analysts anticipate that Orbotech will post 3.3 EPS for the current fiscal year.

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About Orbotech

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.

Institutional Ownership by Quarter for Orbotech (NASDAQ:ORBK)

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