Orbotech Ltd (NASDAQ:ORBK) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 285,935 shares, a drop of 57.2% from the February 15th total of 668,192 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 351,121 shares, the days-to-cover ratio is presently 0.8 days.
Several institutional investors have recently made changes to their positions in the company. Renaissance Group LLC boosted its holdings in shares of Orbotech by 7.7% in the 3rd quarter. Renaissance Group LLC now owns 14,938 shares of the electronics maker’s stock worth $631,000 after purchasing an additional 1,074 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Orbotech by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 7,000 shares of the electronics maker’s stock worth $351,000 after purchasing an additional 1,100 shares during the period. Aperio Group LLC boosted its holdings in shares of Orbotech by 3.8% in the 4th quarter. Aperio Group LLC now owns 37,240 shares of the electronics maker’s stock worth $1,871,000 after purchasing an additional 1,357 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Orbotech by 0.8% in the 4th quarter. California Public Employees Retirement System now owns 190,803 shares of the electronics maker’s stock worth $9,586,000 after purchasing an additional 1,442 shares during the period. Finally, FNY Partners Fund LP boosted its holdings in shares of Orbotech by 106.3% in the 3rd quarter. FNY Partners Fund LP now owns 3,000 shares of the electronics maker’s stock worth $126,000 after purchasing an additional 1,546 shares during the period. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Orbotech (NASDAQ ORBK) opened at $59.41 on Wednesday. The company has a market capitalization of $2,880.00, a P/E ratio of 21.92, a PEG ratio of 0.95 and a beta of 0.71. The company has a quick ratio of 2.70, a current ratio of 3.37 and a debt-to-equity ratio of 0.06. Orbotech has a 1-year low of $30.25 and a 1-year high of $60.42.
ORBK has been the subject of several research analyst reports. BidaskClub upgraded Orbotech from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. ValuEngine cut Orbotech from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Lake Street Capital restated a “buy” rating and set a $62.00 price target (up previously from $52.00) on shares of Orbotech in a report on Monday, January 22nd. Finally, Zacks Investment Research cut Orbotech from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $53.78.
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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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