Orbotech Ltd. (ORBK) Sees Unusually-High Trading Volume
Orbotech Ltd. (NASDAQ:ORBK) saw an uptick in trading volume on Monday . 440,634 shares changed hands during trading, an increase of 25% from the previous session’s volume of 353,213 shares.The stock last traded at $27.01 and had previously closed at $26.19.
A number of research firms have recently issued reports on ORBK. Standpoint Research lowered shares of Orbotech from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Cowen and Company reissued an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Orbotech in a report on Friday, May 6th. Finally, Zacks Investment Research lowered shares of Orbotech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.67.
The company has a market cap of $1.18 billion and a P/E ratio of 19.60. The company’s 50-day moving average price is $26.40 and its 200-day moving average price is $23.63.
Orbotech (NASDAQ:ORBK) last released its earnings results on Wednesday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business earned $190 million during the quarter, compared to analyst estimates of $187.80 million. Orbotech’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Orbotech Ltd. will post $2.47 EPS for the current fiscal year.
A number of large investors have added to or reduced their stakes in ORBK. Numeric Investors LLC increased its stake in Orbotech by 181.9% in the fourth quarter. Numeric Investors LLC now owns 64,000 shares of the company’s stock worth $1,416,000 after buying an additional 41,300 shares during the period. Oxford Asset Management increased its stake in Orbotech by 206.4% in the fourth quarter. Oxford Asset Management now owns 145,139 shares of the company’s stock worth $3,270,000 after buying an additional 97,767 shares during the period. Wells Fargo & Company MN increased its stake in Orbotech by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 852,530 shares of the company’s stock worth $18,867,000 after buying an additional 91,751 shares during the period. Royce & Associates LLC increased its stake in Orbotech by 28.8% in the fourth quarter. Royce & Associates LLC now owns 617,490 shares of the company’s stock worth $13,665,000 after buying an additional 138,020 shares during the period. Finally, Foresters Investment Management Company Inc. increased its stake in Orbotech by 7.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 344,500 shares of the company’s stock worth $7,624,000 after buying an additional 24,500 shares during the period.
Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company operates through three segments: Production Solutions for the Electronics Industry, Solar Energy and Recognition Software. The Production Solutions for the Electronics Industry segment includes design, development, manufacture, marketing and servicing of solutions.
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