Orbotech Ltd. (NASDAQ:ORBK) shares fell 2.3% on Friday . The company traded as low as $29.25 and last traded at $29.28, with a volume of 135,592 shares trading hands. The stock had previously closed at $29.97.

A number of brokerages recently weighed in on ORBK. Zacks Investment Research cut shares of Orbotech from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $35.00 price objective on shares of Orbotech in a report on Friday, August 5th. Finally, Cowen and Company restated an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Orbotech in a report on Friday, May 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $30.14.

The stock has a market capitalization of $1.30 billion and a P/E ratio of 21.36. The company has a 50-day moving average of $27.33 and a 200-day moving average of $24.76.

Orbotech (NASDAQ:ORBK) last released its earnings results on Wednesday, August 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company earned $196 million during the quarter, compared to analyst estimates of $194.98 million. During the same period in the prior year, the business posted $0.53 earnings per share. Orbotech’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Orbotech Ltd. will post $2.50 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Orbotech stock. Wells Fargo & Company MN increased its stake in Orbotech Ltd. (NASDAQ:ORBK) by 12.1% during the fourth quarter, according to its most recent 13F filing with the 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 at the end of the most recent reporting 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.