Orbotech Ltd. (ORBK) Sees Strong Trading Volume
Orbotech Ltd. (NASDAQ:ORBK) saw strong trading volume on Tuesday . 445,735 shares were traded during trading, an increase of 42% from the previous session’s volume of 314,606 shares.The stock last traded at $28.70 and had previously closed at $29.14.
Several equities research analysts have commented on the stock. Cowen and Company restated an “outperform” rating and set 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 shares of Orbotech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Two 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 an average price target of $29.67.
The stock has a 50-day moving average of $26.61 and a 200-day moving average of $24.36. The stock has a market capitalization of $1.24 billion and a price-to-earnings ratio of 20.61.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $190 million for the quarter, compared to analyst estimates of $187.80 million. Orbotech’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Orbotech Ltd. will post $2.47 earnings per share for the current fiscal year.
A number of large investors recently modified their holdings of ORBK. Foresters Investment Management Company Inc. raised its stake in shares of 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. Royce & Associates LLC raised its stake in shares of 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, Wells Fargo & Company MN raised its stake in shares of 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.
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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