Parametric Portfolio Associates LLC Lowers Position in Orbotech Ltd. (NASDAQ:ORBK)

Parametric Portfolio Associates LLC decreased its stake in Orbotech Ltd. (NASDAQ:ORBK) by 41.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,492 shares of the electronics maker’s stock after selling 68,831 shares during the period. Parametric Portfolio Associates LLC owned about 0.20% of Orbotech worth $3,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LSV Asset Management increased its position in Orbotech by 2.6% in the first quarter. LSV Asset Management now owns 1,840,457 shares of the electronics maker’s stock worth $59,354,000 after buying an additional 45,836 shares in the last quarter. Ameriprise Financial Inc. increased its position in Orbotech by 79.1% in the first quarter. Ameriprise Financial Inc. now owns 1,070,472 shares of the electronics maker’s stock worth $34,523,000 after buying an additional 472,680 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Orbotech by 12.8% in the first quarter. Wells Fargo & Company MN now owns 855,903 shares of the electronics maker’s stock worth $27,602,000 after buying an additional 96,828 shares during the last quarter. Investment Counselors of Maryland LLC boosted its stake in shares of Orbotech by 15.2% in the first quarter. Investment Counselors of Maryland LLC now owns 722,098 shares of the electronics maker’s stock worth $23,288,000 after buying an additional 95,300 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Orbotech by 28.5% in the fourth quarter. State Street Corp now owns 288,657 shares of the electronics maker’s stock worth $9,642,000 after buying an additional 64,074 shares during the last quarter. 71.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Orbotech Ltd. (NASDAQ:ORBK) traded down 0.92% during midday trading on Friday, reaching $35.53. The company’s stock had a trading volume of 121,627 shares. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 21.51 and a beta of 0.79. The stock has a 50 day moving average price of $34.67 and a 200-day moving average price of $33.46. Orbotech Ltd. has a 52-week low of $26.69 and a 52-week high of $37.75.

Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, May 3rd. The electronics maker reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $187.60 million during the quarter, compared to analyst estimates of $186.87 million. Orbotech had a return on equity of 14.87% and a net margin of 9.78%. Orbotech’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Equities research analysts expect that Orbotech Ltd. will post $2.69 EPS for the current year.

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ORBK has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Orbotech in a research report on Monday, May 22nd. BidaskClub lowered Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Orbotech in a research report on Wednesday, May 3rd. Zacks Investment Research raised Orbotech from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Standpoint Research lowered Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.86.

Orbotech Company 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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