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

A number of brokerages recently issued reports on ORBK. Cowen and Company reiterated an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Orbotech in a report on Friday, May 6th. Zacks Investment Research cut 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 issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.67.

The stock has a market capitalization of $1.18 billion and a P/E ratio of 19.70. The stock’s 50 day moving average price is $26.47 and its 200-day moving average price is $23.94.

Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, May 4th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm earned $190 million during the quarter, compared to analyst estimates of $187.80 million. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Orbotech Ltd. will post $2.47 EPS for the current fiscal year.

Other large investors recently modified their holdings of the company. Foresters Investment Management Company Inc. raised its stake in shares of 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. Royce & Associates LLC raised its stake in shares of 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, Wells Fargo & Company MN raised its stake in shares of 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.