Victory Capital Management Inc. cut its stake in shares of Orbotech Ltd. (NASDAQ:ORBK) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 871,595 shares of the electronics maker’s stock after selling 121,330 shares during the period. Victory Capital Management Inc. owned 1.82% of Orbotech worth $36,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ETF Managers Group LLC bought a new stake in shares of Orbotech during the second quarter valued at about $470,000. Lockheed Martin Investment Management Co. bought a new stake in shares of Orbotech during the second quarter valued at about $1,093,000. Callahan Advisors LLC increased its position in shares of Orbotech by 10.5% during the third quarter. Callahan Advisors LLC now owns 54,655 shares of the electronics maker’s stock valued at $2,307,000 after buying an additional 5,195 shares during the period. AHL Partners LLP bought a new stake in shares of Orbotech during the second quarter valued at about $4,557,000. Finally, Renaissance Group LLC increased its position in shares of Orbotech by 8.5% during the second quarter. Renaissance Group LLC now owns 13,864 shares of the electronics maker’s stock valued at $452,000 after buying an additional 1,082 shares during the period. Hedge funds and other institutional investors own 70.24% of the company’s stock.

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Shares of Orbotech Ltd. (ORBK) opened at $52.60 on Wednesday. The stock has a market capitalization of $2,524.04, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 2.71. Orbotech Ltd. has a 52 week low of $28.01 and a 52 week high of $53.87.

Several research analysts have recently commented on ORBK shares. BidaskClub raised Orbotech from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective (up previously from $38.00) on shares of Orbotech in a report on Thursday, August 3rd. Supply Chain Market Research LLC boosted their price objective on Orbotech from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Wednesday, August 9th. Finally, Stifel Nicolaus started coverage on Orbotech in a report on Thursday, August 31st. They set a “buy” rating and a $46.00 price objective for the company. Two research 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 stock. Orbotech currently has an average rating of “Buy” and a consensus price target of $51.00.

Orbotech 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.

Institutional Ownership by Quarter for Orbotech (NASDAQ:ORBK)

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