Orbotech Ltd. (ORBK) Shares Gap Up to $29.34
Orbotech Ltd. (NASDAQ:ORBK) gapped up prior to trading on Thursday . The stock had previously closed at $29.32, but opened at $29.34. Orbotech shares last traded at $29.90, with a volume of 248,456 shares trading hands.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Orbotech from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Orbotech in a research note on Friday, August 5th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Orbotech in a research note on Friday, May 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.14.
The company has a 50 day moving average price of $27.24 and a 200-day moving average price of $24.70. The stock has a market capitalization of $1.32 billion and a price-to-earnings ratio of 21.75.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $196 million for the quarter, compared to analyst estimates of $194.98 million. During the same quarter in the prior year, the business earned $0.53 EPS. Orbotech’s revenue was up 3.7% compared to the same quarter last year. Analysts predict that Orbotech Ltd. will post $2.50 earnings per share for the current year.
A hedge fund recently raised its stake in Orbotech stock. Wells Fargo & Company MN increased its position in shares of Orbotech Ltd. (NASDAQ:ORBK) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 852,530 shares of the company’s stock after buying an additional 91,751 shares during the period. Wells Fargo & Company MN owned 2.00% of Orbotech worth $18,867,000 as of its most recent SEC filing.
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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