Orbotech Ltd. (ORBK) Sees Strong Trading Volume
Shares of Orbotech Ltd. (NASDAQ:ORBK) saw unusually-strong trading volume on Friday . Approximately 313,728 shares were traded 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.
A number of analysts have recently issued reports on ORBK shares. Cowen and Company reiterated an “outperform” rating and set a $31.00 price target (up previously from $29.00) on shares of Orbotech in a research report on Friday, May 6th. 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, 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.14.
The stock has a market cap of $1.29 billion and a P/E ratio of 21.25. The firm’s 50-day moving average price is $27.94 and its 200 day moving average price is $25.06.
Orbotech (NASDAQ:ORBK) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $196 million for the quarter, compared to analysts’ expectations of $194.98 million. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. 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 position in Orbotech Ltd. (NASDAQ:ORBK) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 852,530 shares of the company’s stock after buying an additional 91,751 shares during the period. Wells Fargo & Company MN owned approximately 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.