Eagle Asset Management Inc. maintained its position in shares of Orbotech Ltd. (NASDAQ:ORBK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,325 shares of the electronics maker’s stock at the end of the first quarter. Eagle Asset Management Inc. owned approximately 0.21% of Orbotech worth $3,235,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of Orbotech by 79.1% in the first quarter. Ameriprise Financial Inc. now owns 1,070,472 shares of the electronics maker’s stock worth $34,523,000 after buying an additional 472,680 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Orbotech during the fourth quarter worth approximately $12,860,000. Hood River Capital Management LLC raised its stake in shares of Orbotech by 104.9% in the third quarter. Hood River Capital Management LLC now owns 612,031 shares of the electronics maker’s stock worth $18,122,000 after buying an additional 313,391 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Orbotech by 12.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,380,200 shares of the electronics maker’s stock worth $79,522,000 after buying an additional 263,400 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Orbotech during the fourth quarter worth $8,367,000. Institutional investors and hedge funds own 71.55% of the company’s stock.
Shares of Orbotech Ltd. (NASDAQ:ORBK) traded down 0.12% on Friday, reaching $33.22. The company’s stock had a trading volume of 245,340 shares. The stock has a 50-day moving average price of $35.32 and a 200-day moving average price of $33.00. Orbotech Ltd. has a 1-year low of $23.74 and a 1-year high of $37.48. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 20.11 and a beta of 0.59.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, May 3rd. The electronics maker reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Orbotech had a return on equity of 14.87% and a net margin of 9.78%. The firm had revenue of $187.60 million for the quarter, compared to the consensus estimate of $186.87 million. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Orbotech Ltd. will post $2.69 EPS for the current year.
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A number of equities research analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $42.00 price target on shares of Orbotech in a research note on Tuesday, May 23rd. Jefferies Group LLC restated a “buy” rating on shares of Orbotech in a research note on Wednesday, May 3rd. Cowen and Company reiterated an “outperform” rating on shares of Orbotech in a research report on Monday, May 22nd. BidaskClub lowered Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Standpoint Research lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.86.
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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