Orbotech Ltd. (NASDAQ:ORBK) shares fell 2% on Wednesday . The stock traded as low as $27.89 and last traded at $28.07, with a volume of 161,383 shares. The stock had previously closed at $28.63.

Several brokerages have weighed in on ORBK. Cowen and Company reaffirmed an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Orbotech in a research report on Friday, May 6th. Zacks Investment Research lowered Orbotech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.67.

The firm has a market capitalization of $1.22 billion and a PE ratio of 20.35. The firm’s 50 day moving average is $26.68 and its 200 day moving average is $24.39.

Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $196 million for the quarter, compared to the consensus estimate of $194.98 million. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Analysts forecast that Orbotech Ltd. will post $2.47 earnings per share for the current year.

A number of hedge funds and institutional investors have bought and sold shares of the company. Wells Fargo & Company MN raised its position in Orbotech by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 852,530 shares of the company’s stock valued at $18,867,000 after buying an additional 91,751 shares in the last quarter. Royce & Associates LLC raised its position in Orbotech by 28.8% in the fourth quarter. Royce & Associates LLC now owns 617,490 shares of the company’s stock valued at $13,665,000 after buying an additional 138,020 shares in the last quarter. Finally, Foresters Investment Management Company Inc. raised its position in Orbotech by 7.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 344,500 shares of the company’s stock valued at $7,624,000 after buying an additional 24,500 shares in 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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