Zebra Technologies Corporation (NASDAQ:ZBRA) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Zebra Technologies by 9.7% during the 1st quarter, owning 89,788 shares worth approximately $25.37 million.
• Zebra Technologies reported quarterly earnings of $3.61 per share, exceeding analysts' estimates of $3.31, alongside a revenue of $1.29 billion.
• The company has initiated a $250 million share repurchase program, indicating management's belief that its stock is currently undervalued.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,788 shares of the industrial products company's stock after purchasing an additional 7,907 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Zebra Technologies worth $25,370,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new position in shares of Zebra Technologies during the 4th quarter worth $27,000. Coppell Advisory Solutions LLC purchased a new position in shares of Zebra Technologies during the 4th quarter worth $36,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Zebra Technologies during the 1st quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zebra Technologies during the 1st quarter worth $30,000. Finally, GeoWealth Management LLC increased its holdings in shares of Zebra Technologies by 103.8% during the 4th quarter. GeoWealth Management LLC now owns 161 shares of the industrial products company's stock worth $62,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company's stock.

Zebra Technologies Stock Down 2.9%

NASDAQ:ZBRA traded down $9.74 during mid-day trading on Thursday, reaching $328.06. The stock had a trading volume of 431,546 shares, compared to its average volume of 596,472. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 30.98 and a beta of 1.75. Zebra Technologies Corporation has a 1-year low of $205.73 and a 1-year high of $427.76. The stock's 50 day simple moving average is $315.28 and its two-hundred day simple moving average is $298.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.46 and a quick ratio of 1.03.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.31 by $0.30. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. Zebra Technologies's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $3.18 earnings per share. Equities analysts anticipate that Zebra Technologies Corporation will post 13.71 EPS for the current year.

Zebra Technologies declared that its board has approved a share buyback plan on Tuesday, August 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ZBRA has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on Zebra Technologies from $325.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Barclays set a $301.00 price objective on Zebra Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Robert W. Baird upped their price objective on Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Wall Street Zen downgraded Zebra Technologies from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, UBS Group dropped their price objective on Zebra Technologies from $425.00 to $410.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $357.44.

Zebra Technologies 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.