Mizuho Securities USA LLC Cuts Position in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Mizuho Securities USA LLC reduced its stake in Zebra Technologies by 15.9%, now holding 4,114 shares worth approximately $1.16 million as per its recent 13F filing.
• Zebra Technologies reported an earnings per share (EPS) of $3.61 for the quarter, exceeding analysts' expectations of $3.31, with a revenue of $1.29 billion.
• The company's Board of Directors authorized a $250 million share repurchase plan, indicating confidence in the company's stock value.

Mizuho Securities USA LLC lessened its holdings in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,114 shares of the industrial products company's stock after selling 775 shares during the period. Mizuho Securities USA LLC's holdings in Zebra Technologies were worth $1,162,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Brown Advisory Inc. boosted its position in Zebra Technologies by 8.7% during the first quarter. Brown Advisory Inc. now owns 1,751 shares of the industrial products company's stock valued at $495,000 after purchasing an additional 140 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Zebra Technologies by 33.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,912 shares of the industrial products company's stock valued at $2,236,000 after acquiring an additional 1,964 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Zebra Technologies by 6.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,192 shares of the industrial products company's stock valued at $460,000 after purchasing an additional 72 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Zebra Technologies by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,473 shares of the industrial products company's stock worth $981,000 after purchasing an additional 66 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Zebra Technologies by 6.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 21,321 shares of the industrial products company's stock worth $6,024,000 after buying an additional 1,267 shares during the last quarter. Institutional investors own 91.03% of the company's stock.

Wall Street Analyst Weigh In

ZBRA has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their target price on shares of Zebra Technologies from $325.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup restated a "neutral" rating and set a $342.00 price objective (up from $280.00) on shares of Zebra Technologies in a research note on Monday, July 14th. Robert W. Baird increased their price target on Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. BNP Paribas Exane raised Zebra Technologies from a "neutral" rating to an "outperform" rating and set a $408.00 target price on the stock in a report on Thursday, July 10th. Finally, Barclays set a $301.00 price target on Zebra Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies Stock Down 3.0%

ZBRA stock traded down $10.09 during midday trading on Thursday, reaching $327.71. 604,799 shares of the company were exchanged, compared to its average volume of 655,559. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 30.95 and a beta of 1.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.46. 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 $316.01 and its 200 day simple moving average is $298.33.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.30. The firm had revenue of $1.29 billion during 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.18 earnings per share. On average, equities analysts forecast that Zebra Technologies Corporation will post 13.71 earnings per share for the current year.

Zebra Technologies declared that its board has initiated a stock repurchase program on Tuesday, August 5th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership 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.