LPL Financial LLC Sells 3,903 Shares of Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• LPL Financial LLC reduced its stake in Zebra Technologies by 11.5%, selling 3,903 shares and leaving it with 29,903 shares valued at approximately $8.4 million.
• Zebra Technologies reported an earnings per share (EPS) of $3.61 for the last quarter, outperforming estimates by $0.30 and seeing a 6.2% increase in revenue year-over-year.
• The company initiated a $250 million stock repurchase plan, indicating the board believes the stock is undervalued.

LPL Financial LLC lowered its stake in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,903 shares of the industrial products company's stock after selling 3,903 shares during the quarter. LPL Financial LLC owned about 0.06% of Zebra Technologies worth $8,449,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Empirical Finance LLC boosted its position in Zebra Technologies by 4.0% during the first quarter. Empirical Finance LLC now owns 1,756 shares of the industrial products company's stock worth $496,000 after purchasing an additional 67 shares during the period. HB Wealth Management LLC boosted its position in Zebra Technologies by 32.1% during the first quarter. HB Wealth Management LLC now owns 1,821 shares of the industrial products company's stock worth $515,000 after purchasing an additional 443 shares during the period. Pacer Advisors Inc. boosted its position in Zebra Technologies by 5,704.9% during the first quarter. Pacer Advisors Inc. now owns 259,363 shares of the industrial products company's stock worth $73,286,000 after purchasing an additional 254,895 shares during the period. Assetmark Inc. boosted its position in Zebra Technologies by 19.8% during the first quarter. Assetmark Inc. now owns 10,374 shares of the industrial products company's stock worth $2,931,000 after purchasing an additional 1,717 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of Zebra Technologies by 7.5% in the first quarter. Avantax Advisory Services Inc. now owns 2,248 shares of the industrial products company's stock valued at $635,000 after acquiring an additional 156 shares during the period. Institutional investors own 91.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ZBRA shares. BNP Paribas Exane raised Zebra Technologies from a "neutral" rating to an "outperform" rating and set a $408.00 price objective for the company in a research report on Thursday, July 10th. BNP Paribas raised Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Wall Street Zen cut Zebra Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Citigroup reaffirmed a "neutral" rating and issued a $342.00 target price (up from $280.00) on shares of Zebra Technologies in a research report on Monday, July 14th. Finally, Truist Financial raised their target price on Zebra Technologies from $269.00 to $319.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Zebra Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies Price Performance

Zebra Technologies stock traded up $9.66 during mid-day trading on Wednesday, hitting $337.80. 499,073 shares of the company were exchanged, compared to its average volume of 596,547. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $314.35 and a 200 day moving average of $298.55. Zebra Technologies Corporation has a 1-year low of $205.73 and a 1-year high of $427.76. The company has a market capitalization of $17.18 billion, a PE ratio of 31.90 and a beta of 1.75.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.30. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $3.18 earnings per share. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Zebra Technologies Corporation will post 13.71 earnings per share for the current year.

Zebra Technologies announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 5th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Zebra Technologies Company Profile

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.