Shares of Orbotech Ltd. (NASDAQ:ORBK) were down 2.4% on Thursday . The company traded as low as $27.31 and last traded at $27.36, with a volume of 111,016 shares trading hands. The stock had previously closed at $28.04.

A number of analysts recently weighed in on ORBK shares. Zacks Investment Research downgraded Orbotech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Cowen and Company restated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Orbotech in a research note on Friday, May 6th. Finally, Standpoint Research downgraded Orbotech from a “buy” rating to a “hold” rating in a research note on Wednesday, March 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $29.67.

The company’s 50-day moving average price is $26.54 and its 200 day moving average price is $23.88. The firm has a market capitalization of $1.18 billion and a PE ratio of 19.64.

Orbotech (NASDAQ:ORBK) last released its earnings results on Wednesday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business earned $190 million during the quarter, compared to analysts’ expectations of $187.80 million. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Orbotech Ltd. will post $2.47 EPS for the current fiscal year.

Several hedge funds have added to or reduced their stakes in the stock. Wells Fargo & Company MN raised 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 last quarter. Royce & Associates LLC raised 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 last quarter. Finally, Foresters Investment Management Company Inc. raised 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 last quarter.

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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