Malaga Cove Capital LLC Has $599,000 Position in Orbotech Ltd. (NASDAQ:ORBK)
Malaga Cove Capital LLC boosted its position in shares of Orbotech Ltd. (NASDAQ:ORBK) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 18,371 shares of the electronics maker’s stock after buying an additional 300 shares during the period. Malaga Cove Capital LLC’s holdings in Orbotech were worth $599,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in shares of Orbotech by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,616 shares of the electronics maker’s stock worth $119,000 after buying an additional 968 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Orbotech during the first quarter worth about $207,000. Penserra Capital Management LLC raised its position in shares of Orbotech by 75.0% in the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock valued at $218,000 after buying an additional 2,907 shares during the period. Cutter & CO Brokerage Inc. raised its position in shares of Orbotech by 10.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 7,292 shares of the electronics maker’s stock valued at $235,000 after buying an additional 683 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in shares of Orbotech during the first quarter valued at $242,000. 71.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Orbotech Ltd. (NASDAQ ORBK) traded down 0.96% on Friday, reaching $36.98. 259,525 shares of the company’s stock traded hands. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 22.38 and a beta of 0.79. The stock’s 50-day moving average price is $34.67 and its 200-day moving average price is $33.30. Orbotech Ltd. has a 52 week low of $26.69 and a 52 week high of $37.75.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, May 3rd. The electronics maker reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $187.60 million during the quarter, compared to analysts’ expectations of $186.87 million. Orbotech had a return on equity of 14.87% and a net margin of 9.78%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. Equities analysts predict that Orbotech Ltd. will post $2.69 EPS for the current year.
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Several brokerages have weighed in on ORBK. Zacks Investment Research raised shares of Orbotech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Standpoint Research lowered shares of Orbotech from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. BidaskClub raised shares of Orbotech from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Cowen and Company increased their target price on shares of Orbotech from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Orbotech in a research note on Monday, May 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.86.
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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