Orbotech Ltd. (ORBK) Shares Gap Up to $29.34
Orbotech Ltd. (NASDAQ:ORBK) shares 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 traded.
Several research analysts have commented on ORBK shares. Zacks Investment Research upgraded shares of Orbotech from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Orbotech in a research report on Friday, August 5th. Finally, Cowen and Company reaffirmed 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.14.
The firm’s 50-day moving average is $27.33 and its 200 day moving average is $24.76. The firm has a market cap of $1.30 billion and a PE ratio of 21.36.
Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data 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 firm had revenue of $196 million for the quarter, compared to the consensus estimate of $194.98 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Orbotech Ltd. will post $2.50 EPS for the current year.
A hedge fund recently raised its stake in Orbotech stock. Foresters Investment Management Company Inc. increased its stake in Orbotech Ltd. (NASDAQ:ORBK) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,500 shares of the company’s stock after buying an additional 24,500 shares during the period. Foresters Investment Management Company Inc. owned about 0.81% of Orbotech worth $7,624,000 as of its most recent filing with the SEC.
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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