Orbotech Ltd. (ORBK) Trading Down 2.4%
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.
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