Oppenheimer & Co. Inc. cut its stake in Orbotech Ltd (NASDAQ:ORBK) by 22.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,697 shares of the electronics maker’s stock after selling 3,472 shares during the period. Oppenheimer & Co. Inc.’s holdings in Orbotech were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. purchased a new stake in shares of Orbotech in the second quarter valued at approximately $248,000. Jane Street Group LLC purchased a new stake in shares of Orbotech in the first quarter valued at approximately $344,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 purchasing an additional 1,225 shares in the last quarter. Ramsey Quantitative Systems grew its position in shares of Orbotech by 924.7% in the third quarter. Ramsey Quantitative Systems now owns 6,025 shares of the electronics maker’s stock valued at $358,000 after purchasing an additional 5,437 shares in the last quarter. Finally, We Are One Seven LLC purchased a new position in Orbotech in the third quarter worth approximately $594,000. Institutional investors and hedge funds own 69.97% of the company’s stock.
Several brokerages recently weighed in on ORBK. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Friday, August 10th. BidaskClub lowered Orbotech from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Finally, ValuEngine lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.80.
Shares of Orbotech stock opened at $54.06 on Wednesday. The company has a market capitalization of $2.69 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. Orbotech Ltd has a fifty-two week low of $44.14 and a fifty-two week high of $65.75. The company has a quick ratio of 2.80, a current ratio of 3.52 and a debt-to-equity ratio of 0.04.
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Orbotech Company Profile
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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