Orbotech Ltd. (NASDAQ:ORBK) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.25 and last traded at $29.20, with a volume of 156,920 shares. The stock had previously closed at $28.84.

Several research analysts have recently issued reports on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $35.00 target price on shares of Orbotech in a research note on Friday. Cowen and Company restated an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Orbotech in a research report on Friday, May 6th. Finally, Zacks Investment Research downgraded shares of Orbotech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $29.67.

The company’s 50 day moving average price is $27.02 and its 200 day moving average price is $24.62. The firm has a market capitalization of $1.28 billion and a price-to-earnings ratio of 21.18.

Orbotech (NASDAQ:ORBK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. During the same period last year, the business posted $0.53 EPS. The business had revenue of $196 million for the quarter, compared to analysts’ expectations of $194.98 million. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts predict that Orbotech Ltd. will post $2.50 EPS for the current year.

Other hedge funds and institutional investors have bought and sold shares of the company. Foresters Investment Management Company Inc. increased 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 worth $7,624,000 after buying an additional 24,500 shares during the period. Royce & Associates LLC increased its position 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, Wells Fargo & Company MN increased 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 worth $18,867,000 after buying an additional 91,751 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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