Orbotech Ltd. (ORBK) Sees Unusually-High Trading Volume
Orbotech Ltd. (NASDAQ:ORBK) shares saw unusually-high trading volume on Friday . Approximately 313,728 shares changed hands during trading, an increase of 9% from the previous session’s volume of 288,485 shares.The stock last traded at $29.24 and had previously closed at $28.97.
ORBK has been the subject of several research reports. Zacks Investment Research upgraded Orbotech from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Wednesday, August 10th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 price target on shares of Orbotech in a research report on Friday, August 5th. Finally, Cowen and Company reiterated an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Orbotech in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.14.
The stock’s 50 day moving average is $27.94 and its 200 day moving average is $25.06. The company has a market capitalization of $1.29 billion and a P/E ratio of 21.25.
Orbotech (NASDAQ:ORBK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. During the same quarter last year, the business posted $0.53 earnings per share. The company earned $196 million during the quarter, compared to analysts’ expectations of $194.98 million. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Orbotech Ltd. will post $2.50 earnings per share for the current year.
An institutional investor recently raised its position in Orbotech stock. Wells Fargo & Company MN increased its stake 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. The institutional investor 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 at the end of the most recent 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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