Penserra Capital Management LLC Acquires 1,100 Shares of Orbotech Ltd (ORBK)
Penserra Capital Management LLC boosted its holdings in shares of Orbotech Ltd (NASDAQ:ORBK) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,000 shares of the electronics maker’s stock after acquiring an additional 1,100 shares during the quarter. Penserra Capital Management LLC’s holdings in Orbotech were worth $351,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. River & Mercantile Asset Management LLP bought a new position in Orbotech during the fourth quarter valued at approximately $1,207,000. Buckley Wealth Management LLC bought a new position in Orbotech during the fourth quarter valued at approximately $206,000. Hood River Capital Management LLC raised its position in Orbotech by 28.7% during the fourth quarter. Hood River Capital Management LLC now owns 419,088 shares of the electronics maker’s stock valued at $21,055,000 after acquiring an additional 93,547 shares in the last quarter. California Public Employees Retirement System raised its position in Orbotech by 0.8% during the fourth quarter. California Public Employees Retirement System now owns 190,803 shares of the electronics maker’s stock valued at $9,586,000 after acquiring an additional 1,442 shares in the last quarter. Finally, M&T Bank Corp raised its position in Orbotech by 12.2% during the fourth quarter. M&T Bank Corp now owns 28,068 shares of the electronics maker’s stock valued at $1,410,000 after acquiring an additional 3,052 shares in the last quarter. 65.20% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Lake Street Capital reiterated a “buy” rating and set a $62.00 price target (up previously from $52.00) on shares of Orbotech in a report on Monday, January 22nd. ValuEngine downgraded Orbotech from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Zacks Investment Research downgraded Orbotech from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Stifel Nicolaus increased their price target on Orbotech from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Orbotech presently has an average rating of “Buy” and a consensus target price of $52.10.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings results on Wednesday, February 14th. The electronics maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Orbotech had a return on equity of 15.72% and a net margin of 11.89%. The company had revenue of $256.90 million for the quarter, compared to the consensus estimate of $256.02 million. During the same quarter last year, the company posted $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 forecast that Orbotech Ltd will post 2.76 EPS for the current year.
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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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