521,084 Shares in Orbotech Ltd (ORBK) Acquired by Alpine Associates Management Inc.
Alpine Associates Management Inc. acquired a new stake in shares of Orbotech Ltd (NASDAQ:ORBK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 521,084 shares of the electronics maker’s stock, valued at approximately $32,295,000. Orbotech accounts for approximately 1.0% of Alpine Associates Management Inc.’s holdings, making the stock its 28th largest position.
Other large investors have also bought and sold shares of the company. Summit Global Investments raised its position in Orbotech by 8.0% during the second quarter. Summit Global Investments now owns 10,800 shares of the electronics maker’s stock valued at $667,000 after purchasing an additional 800 shares in the last quarter. Northern Trust Corp raised its position in Orbotech by 0.9% during the first quarter. Northern Trust Corp now owns 100,144 shares of the electronics maker’s stock valued at $6,227,000 after purchasing an additional 879 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Orbotech by 25.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,008 shares of the electronics maker’s stock valued at $371,000 after purchasing an additional 1,225 shares in the last quarter. Swiss National Bank raised its position in Orbotech by 2.5% during the second quarter. Swiss National Bank now owns 81,200 shares of the electronics maker’s stock valued at $5,018,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Whittier Trust Co. raised its position in Orbotech by 4.5% during the second quarter. Whittier Trust Co. now owns 51,374 shares of the electronics maker’s stock valued at $3,174,000 after purchasing an additional 2,221 shares in the last quarter. 70.18% of the stock is owned by institutional investors.
ORBK has been the topic of a number of research reports. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, August 10th. BidaskClub downgraded Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Orbotech currently has an average rating of “Hold” and an average price target of $60.43.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings data on Wednesday, August 1st. The electronics maker reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The firm had revenue of $267.50 million for the quarter, compared to the consensus estimate of $258.51 million. Orbotech had a return on equity of 17.77% and a net margin of 15.56%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. analysts predict that Orbotech Ltd will post 3.3 EPS for the current fiscal year.
Orbotech Company Profile
Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.
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