Hood River Capital Management LLC Acquires New Position in Orbotech Ltd. (ORBK)
Hood River Capital Management LLC bought a new stake in Orbotech Ltd. (NASDAQ:ORBK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 298,640 shares of the company’s stock, valued at approximately $7,630,000.
A number of other large investors have also bought and sold shares of ORBK. Aperio Group LLC boosted its stake in Orbotech by 4.6% in the first quarter. Aperio Group LLC now owns 42,996 shares of the company’s stock valued at $1,022,000 after buying an additional 1,877 shares during the last quarter. Prudential Financial Inc. boosted its stake in Orbotech by 75.6% in the first quarter. Prudential Financial Inc. now owns 357,300 shares of the company’s stock valued at $8,497,000 after buying an additional 153,800 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Orbotech during the first quarter valued at $2,221,000. BlackRock Fund Advisors boosted its stake in Orbotech by 71.1% in the first quarter. BlackRock Fund Advisors now owns 44,925 shares of the company’s stock valued at $1,068,000 after buying an additional 18,676 shares during the last quarter. Finally, Columbia Partners L L C Investment Management acquired a new stake in Orbotech during the first quarter valued at $2,192,000. Hedge funds and other institutional investors own 69.07% of the company’s stock.
Orbotech Ltd. (NASDAQ:ORBK) traded down 0.07% on Thursday, hitting $29.43. The stock had a trading volume of 126,388 shares. The company’s 50 day moving average price is $28.93 and its 200-day moving average price is $26.72. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 21.36 and a beta of 0.73. Orbotech Ltd. has a 12-month low of $15.27 and a 12-month high of $30.11.
Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Orbotech had a return on equity of 15.48% and a net margin of 7.98%. The business earned $196 million during the quarter, compared to analyst estimates of $194.98 million. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Orbotech Ltd. will post $2.50 EPS for the current year.
A number of equities research analysts have weighed in on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $35.00 price objective on shares of Orbotech in a research note on Friday, August 5th. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.50.
Orbotech Company Profile
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company operates through three segments: Production Solutions for the Electronics Industry, Solar Energy and Recognition Software. The Production Solutions for the Electronics Industry segment includes design, development, manufacture, marketing and servicing of solutions.
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