Employees Retirement System of Texas reduced its stake in Orbotech Ltd (NASDAQ:ORBK) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,000 shares of the electronics maker’s stock after selling 5,000 shares during the period. Employees Retirement System of Texas’ holdings in Orbotech were worth $1,407,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Orbotech by 929.6% during the third quarter. JPMorgan Chase & Co. now owns 1,146,419 shares of the electronics maker’s stock valued at $48,196,000 after buying an additional 1,035,068 shares during the period. Prudential Financial Inc. purchased a new position in shares of Orbotech during the third quarter valued at approximately $2,292,000. Royal Bank of Canada increased its stake in shares of Orbotech by 126.7% during the second quarter. Royal Bank of Canada now owns 20,638 shares of the electronics maker’s stock valued at $674,000 after buying an additional 11,535 shares during the period. Invictus RG purchased a new position in shares of Orbotech during the third quarter valued at approximately $397,000. Finally, Legal & General Group Plc increased its stake in shares of Orbotech by 195.4% during the third quarter. Legal & General Group Plc now owns 12,781 shares of the electronics maker’s stock valued at $540,000 after buying an additional 8,454 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Orbotech Ltd (ORBK) opened at $54.96 on Thursday. The company has a quick ratio of 2.70, a current ratio of 3.37 and a debt-to-equity ratio of 0.06. Orbotech Ltd has a 1-year low of $28.36 and a 1-year high of $57.09. The company has a market capitalization of $2,649.36, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75.
ORBK has been the topic of several research analyst reports. Lake Street Capital reissued a “buy” rating and set a $62.00 target price (up from $52.00) on shares of Orbotech in a research note on Monday, January 22nd. Stifel Nicolaus boosted their target price on Orbotech from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Barclays lifted their price target on Orbotech to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. BidaskClub lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, ValuEngine lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Orbotech presently has a consensus rating of “Buy” and an average target price of $52.10.
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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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