Boston Advisors LLC lowered its stake in shares of Orbotech Ltd. (NASDAQ:ORBK) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 212,730 shares of the company’s stock after selling 420 shares during the period. Boston Advisors LLC’s holdings in Orbotech were worth $5,435,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cordasco Financial Network acquired a new stake in shares of Orbotech during the second quarter worth approximately $102,000. Invictus RG acquired a new stake in shares of Orbotech during the first quarter worth approximately $117,000. Acrospire Investment Management LLC acquired a new stake in shares of Orbotech during the first quarter worth approximately $182,000. Boothbay Fund Management LLC acquired a new stake in shares of Orbotech during the first quarter worth approximately $270,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Orbotech during the first quarter worth approximately $281,000. 69.07% of the stock is currently owned by institutional investors.
Shares of Orbotech Ltd. (NASDAQ:ORBK) traded up 0.58% during mid-day trading on Wednesday, hitting $29.35. The company’s stock had a trading volume of 153,724 shares. Orbotech Ltd. has a 52-week low of $14.70 and a 52-week high of $30.11. The stock’s 50 day moving average price is $28.94 and its 200 day moving average price is $26.51. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 21.30 and a beta of 0.86.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $196 million for the quarter, compared to the consensus estimate of $194.98 million. Orbotech had a return on equity of 15.48% and a net margin of 7.98%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities analysts forecast that Orbotech Ltd. will post $2.50 EPS for the current year.
A number of analysts recently commented on the company. Zacks Investment Research lowered Orbotech from a “buy” rating to a “hold” rating in a report on Saturday, August 13th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 price target 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 issued a buy rating to the company. Orbotech has an average rating of “Buy” and a consensus price target of $30.50.
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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