Orbotech Ltd (NASDAQ:ORBK) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 285,935 shares, a decrease of 57.2% from the February 15th total of 668,192 shares. Based on an average daily trading volume, of 351,121 shares, the short-interest ratio is presently 0.8 days. Currently, 0.8% of the shares of the stock are short sold.
Several brokerages recently weighed in on ORBK. BidaskClub raised shares of Orbotech from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine downgraded shares of Orbotech from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $62.00 target price (up previously from $52.00) on shares of Orbotech in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $53.78.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ORBK. Vanguard Group Inc. boosted its holdings in shares of Orbotech by 11.9% during the 2nd quarter. Vanguard Group Inc. now owns 25,452 shares of the electronics maker’s stock valued at $830,000 after purchasing an additional 2,708 shares during the last quarter. State Street Corp boosted its holdings in shares of Orbotech by 9.6% during the 2nd quarter. State Street Corp now owns 318,065 shares of the electronics maker’s stock valued at $10,374,000 after purchasing an additional 27,837 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Orbotech by 9.8% during the 3rd quarter. Nationwide Fund Advisors now owns 66,300 shares of the electronics maker’s stock valued at $2,799,000 after purchasing an additional 5,900 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Orbotech during the 3rd quarter valued at about $6,678,000. Finally, Prudential Financial Inc. bought a new position in shares of Orbotech during the 3rd quarter valued at about $2,292,000. 74.73% of the stock is owned by institutional investors and hedge funds.
Orbotech (NASDAQ:ORBK) last released its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Orbotech had a net margin of 14.69% and a return on equity of 15.98%. The business had revenue of $256.90 million during the quarter, compared to the consensus estimate of $256.02 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue was up 19.5% on a year-over-year basis. equities research analysts forecast that Orbotech will post 3.3 earnings per share for the current fiscal year.
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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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