Capital Management Associates NY reduced its stake in Orbotech Ltd. (NASDAQ:ORBK) by 25.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,500 shares of the electronics maker’s stock after selling 5,000 shares during the period. Capital Management Associates NY’s holdings in Orbotech were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc lifted its stake in Orbotech by 293.4% during the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 3,227 shares during the last quarter. Airain ltd bought a new stake in Orbotech during the second quarter worth $208,000. Advisor Group Inc. lifted its stake in Orbotech by 325.1% during the third quarter. Advisor Group Inc. now owns 5,454 shares of the electronics maker’s stock worth $230,000 after purchasing an additional 4,171 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in Orbotech during the first quarter worth $242,000. Finally, Quantbot Technologies LP bought a new stake in Orbotech during the second quarter worth $252,000. Institutional investors and hedge funds own 69.42% of the company’s stock.
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Several research firms have weighed in on ORBK. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a research note on Tuesday, November 7th. Needham & Company LLC upped their price target on shares of Orbotech from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Stifel Nicolaus upped their price target on shares of Orbotech from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Barclays PLC upped their price target on shares of Orbotech to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Finally, Oppenheimer Holdings, Inc. upped their price target on shares of Orbotech from $42.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Orbotech currently has a consensus rating of “Buy” and an average target price of $51.00.
Orbotech Ltd. (NASDAQ ORBK) traded up $1.04 during midday trading on Tuesday, reaching $53.24. The company had a trading volume of 464,800 shares, compared to its average volume of 380,027. The firm has a market capitalization of $2,500.57, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 0.99 and a beta of 0.76. Orbotech Ltd. has a 1-year low of $28.01 and a 1-year high of $53.95. The company has a quick ratio of 2.71, a current ratio of 3.37 and a debt-to-equity ratio of 0.07.
Orbotech Company Profile
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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