Forsta AP Fonden Acquires 18,300 Shares of Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Forsta AP Fonden increased its stake in Zebra Technologies by 171.0%, owning 29,000 shares valued at approximately $8.19 million as of the end of the last quarter.
• Zebra Technologies' stock received mixed analyst ratings, with five analysts rating it as a "buy" and one as a "strong buy," while the consensus price target is $357.44.
• The company announced a $250 million share repurchase program, indicating its management's belief that the stock is undervalued.

Forsta AP Fonden raised its position in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 171.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,000 shares of the industrial products company's stock after buying an additional 18,300 shares during the quarter. Forsta AP Fonden owned about 0.06% of Zebra Technologies worth $8,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Zebra Technologies by 11.7% in the 4th quarter. American Century Companies Inc. now owns 2,040 shares of the industrial products company's stock valued at $788,000 after purchasing an additional 213 shares in the last quarter. Wellington Management Group LLP boosted its position in Zebra Technologies by 222.4% during the 4th quarter. Wellington Management Group LLP now owns 11,145 shares of the industrial products company's stock worth $4,304,000 after buying an additional 7,688 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Zebra Technologies during the 4th quarter worth approximately $212,000. Federated Hermes Inc. boosted its position in Zebra Technologies by 51.8% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the industrial products company's stock worth $161,000 after buying an additional 142 shares during the period. Finally, Cerity Partners LLC boosted its position in Zebra Technologies by 7.7% during the 4th quarter. Cerity Partners LLC now owns 11,494 shares of the industrial products company's stock worth $4,294,000 after buying an additional 826 shares during the period. 91.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ZBRA has been the topic of several recent research 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 report on Wednesday, August 6th. UBS Group cut their target price on shares of Zebra Technologies from $425.00 to $410.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird lifted their target price on shares of Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Barclays boosted their price target on shares of Zebra Technologies from $263.00 to $301.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, BNP Paribas upgraded shares of Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zebra Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Trading Up 2.9%

Shares of NASDAQ:ZBRA traded up $9.66 during mid-day trading on Wednesday, hitting $337.80. The company had a trading volume of 499,073 shares, compared to its average volume of 597,578. The firm has a fifty day moving average price of $314.35 and a 200 day moving average price of $298.55. The company has a market capitalization of $17.18 billion, a PE ratio of 31.90 and a beta of 1.75. 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 Corporation has a one year low of $205.73 and a one year high of $427.76.

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 for the quarter, beating the consensus estimate of $3.31 by $0.30. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates 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 for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.18 EPS. As a group, research analysts forecast that Zebra Technologies Corporation will post 13.71 EPS for the current year.

Zebra Technologies announced that its Board of Directors has approved a share buyback plan on Tuesday, August 5th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management 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.