Renaissance Technologies LLC cut its stake in Orbotech Ltd (NASDAQ:ORBK) by 13.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,971,682 shares of the electronics maker’s stock after selling 316,100 shares during the quarter. Renaissance Technologies LLC owned 4.06% of Orbotech worth $117,197,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Alpine Associates Management Inc. grew its stake in shares of Orbotech by 273.7% in the third quarter. Alpine Associates Management Inc. now owns 1,947,434 shares of the electronics maker’s stock worth $115,755,000 after acquiring an additional 1,426,350 shares during the period. Millennium Management LLC boosted its holdings in shares of Orbotech by 182.0% in the second quarter. Millennium Management LLC now owns 882,010 shares of the electronics maker’s stock worth $54,508,000 after buying an additional 569,263 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Orbotech by 2.3% in the third quarter. BlackRock Inc. now owns 818,332 shares of the electronics maker’s stock worth $48,642,000 after buying an additional 18,251 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Orbotech by 8.9% in the third quarter. Wells Fargo & Company MN now owns 698,990 shares of the electronics maker’s stock worth $41,548,000 after buying an additional 56,975 shares during the last quarter. Finally, Cowen Inc. boosted its holdings in shares of Orbotech by 213.1% in the second quarter. Cowen Inc. now owns 407,642 shares of the electronics maker’s stock worth $25,192,000 after buying an additional 277,440 shares during the last quarter. Hedge funds and other institutional investors own 71.08% of the company’s stock.
ORBK opened at $58.11 on Friday. The company has a current ratio of 3.88, a quick ratio of 3.06 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.88 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. Orbotech Ltd has a 12-month low of $44.14 and a 12-month high of $65.75.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings data on Wednesday, November 7th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.11). The business had revenue of $261.23 million during the quarter, compared to analysts’ expectations of $262.49 million. Orbotech had a return on equity of 16.36% and a net margin of 14.62%. On average, equities research analysts predict that Orbotech Ltd will post 3.15 earnings per share for the current year.
A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Orbotech from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded shares of Orbotech from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine raised shares of Orbotech from a “hold” rating to a “buy” rating in a report on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Orbotech presently has a consensus rating of “Hold” and an average price target of $61.00.
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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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