Nationwide Fund Advisors boosted its position in Orbotech Ltd. (NASDAQ:ORBK) by 23.7% during the second quarter, Holdings Channel reports. The firm owned 113,840 shares of the company’s stock after buying an additional 21,800 shares during the period. Nationwide Fund Advisors owned 0.26% of Orbotech worth $2,909,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cordasco Financial Network purchased a new position in Orbotech during the second quarter worth $102,000. Invictus RG purchased a new position in Orbotech during the first quarter worth $117,000. Societe Generale purchased a new position in Orbotech during the second quarter worth $143,000. SG Americas Securities LLC purchased a new position in Orbotech during the second quarter worth $143,000. Finally, Acrospire Investment Management LLC purchased a new position in Orbotech during the first quarter worth $182,000. Hedge funds and other institutional investors own 69.07% of the company’s stock.
Orbotech Ltd. (NASDAQ:ORBK) traded down 1.09% during mid-day trading on Friday, hitting $29.11. The company had a trading volume of 75,099 shares. The firm has a market capitalization of $1.28 billion, a PE ratio of 21.12 and a beta of 0.73. The company has a 50 day moving average of $28.95 and a 200 day moving average of $26.77. Orbotech Ltd. has a 1-year low of $15.27 and a 1-year high of $30.11.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business earned $196 million during the quarter, compared to the consensus estimate of $194.98 million. Orbotech had a net margin of 7.98% and a return on equity of 15.48%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Analysts predict that Orbotech Ltd. will post $2.50 earnings per share for the current fiscal year.
A number of research analysts have weighed in on ORBK shares. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, August 10th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 target price on shares of Orbotech in a report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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