Orbotech Ltd. (ORBK) Holdings Trimmed by Nationwide Fund Advisors
Nationwide Fund Advisors lessened its holdings in shares of Orbotech Ltd. (NASDAQ:ORBK) by 48.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,400 shares of the electronics maker’s stock after selling 56,200 shares during the quarter. Nationwide Fund Advisors owned 0.13% of Orbotech worth $1,970,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc grew its stake in Orbotech by 293.4% during 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 in the last quarter. Envestnet Asset Management Inc. grew its stake in Orbotech by 40.9% during 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 in the last quarter. Airain ltd acquired a new stake in Orbotech during the 2nd quarter valued at approximately $208,000. OppenheimerFunds Inc. acquired a new stake in Orbotech during the 1st quarter valued at approximately $242,000. Finally, FNY Partners Fund LP acquired a new stake in Orbotech during the 1st quarter valued at approximately $298,000. Hedge funds and other institutional investors own 69.88% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday, September 6th. BidaskClub lowered Orbotech from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Stifel Nicolaus assumed coverage on Orbotech in a research note on Thursday, August 31st. They set a “buy” rating and a $46.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective (up previously from $38.00) on shares of Orbotech in a research note 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 currently has a consensus rating of “Buy” and an average target price of $41.88.
Orbotech Ltd. (ORBK) opened at 43.60 on Tuesday. Orbotech Ltd. has a 52-week low of $26.83 and a 52-week high of $44.11. The company’s 50-day moving average price is $41.70 and its 200-day moving average price is $36.47. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 23.40 and a beta of 0.79.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.08. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The company had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Analysts predict that Orbotech Ltd. will post $2.80 EPS for the current year.
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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