Victory Capital Management Inc. Has $32.39 Million Stake in Orbotech Ltd. (ORBK)
Victory Capital Management Inc. boosted its position in Orbotech Ltd. (NASDAQ:ORBK) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 992,925 shares of the electronics maker’s stock after buying an additional 114,217 shares during the period. Victory Capital Management Inc. owned about 2.07% of Orbotech worth $32,390,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Orbotech by 293.4% in the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after buying an additional 3,227 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Orbotech by 40.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock worth $165,000 after buying an additional 1,479 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of Orbotech during the first quarter worth $207,000. Penserra Capital Management LLC boosted its stake 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 worth $218,000 after buying an additional 2,907 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its stake 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 worth $235,000 after buying an additional 683 shares in the last quarter. 69.62% of the stock is currently owned by institutional investors.
Shares of Orbotech Ltd. (NASDAQ:ORBK) opened at 39.74 on Friday. The firm’s 50 day moving average is $37.00 and its 200-day moving average is $34.02. Orbotech Ltd. has a 12 month low of $26.69 and a 12 month high of $40.33. The firm has a market capitalization of $1.90 billion, a PE ratio of 21.33 and a beta of 0.80.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts expect that Orbotech Ltd. will post $2.80 EPS for the current fiscal year.
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A number of brokerages have weighed in on ORBK. Supply Chain Market Research LLC lifted their price target on shares of Orbotech from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Orbotech from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target (up from $38.00) on shares of Orbotech in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus began coverage on shares of Orbotech in a research report on Thursday. They set a “buy” rating and a $46.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Orbotech presently has an average rating of “Buy” and a consensus target price of $40.00.
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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