Ameriprise Financial Inc. increased its stake in shares of Orbotech Ltd. (NASDAQ:ORBK) by 356.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,342 shares of the company’s stock after buying an additional 339,915 shares during the period. Ameriprise Financial Inc. owned 0.99% of Orbotech worth $11,124,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cordasco Financial Network acquired a new stake in Orbotech during the second quarter worth $102,000. Invictus RG acquired a new stake in Orbotech during the first quarter worth $117,000. Societe Generale acquired a new stake in Orbotech during the second quarter worth $143,000. SG Americas Securities LLC acquired a new stake in Orbotech during the second quarter worth $143,000. Finally, Acrospire Investment Management LLC acquired a new stake in Orbotech during the first quarter worth $182,000. Institutional investors own 69.07% of the company’s stock.
Orbotech Ltd. (NASDAQ:ORBK) traded down 0.10% during trading on Thursday, hitting $29.32. The stock had a trading volume of 51,059 shares. The firm’s 50-day moving average price is $28.94 and its 200-day moving average price is $26.51. The stock has a market cap of $1.29 billion, a PE ratio of 21.28 and a beta of 0.86. Orbotech Ltd. has a 1-year low of $14.70 and a 1-year high of $30.11.
Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Orbotech had a return on equity of 15.48% and a net margin of 7.98%. The firm had revenue of $196 million for the quarter, compared to analysts’ expectations of $194.98 million. During the same period last year, the firm earned $0.53 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Orbotech Ltd. will post $2.50 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Orbotech from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 target price on shares of Orbotech in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target 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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