Orbotech Ltd. (NASDAQ:ORBK) reached a new 52-week high on Tuesday . The stock traded as high as $40.51 and last traded at $40.53, with a volume of 321,209 shares. The stock had previously closed at $40.25.

Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Standpoint Research downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Stifel Nicolaus assumed coverage on shares of Orbotech in a research report on Thursday, August 31st. They issued a “buy” rating and a $46.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Orbotech in a research report on Monday, May 22nd. Finally, Zacks Investment Research raised shares of Orbotech from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Orbotech presently has an average rating of “Buy” and a consensus target price of $40.00.

The firm’s 50 day moving average price is $37.13 and its 200 day moving average price is $34.09. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.82 and a beta of 0.78.

Orbotech (NASDAQ:ORBK) last announced its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. Orbotech had a net margin of 11.03% and a return on equity of 14.98%. The company had revenue of $210.66 million during the quarter, compared to analysts’ expectations of $205.20 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Orbotech Ltd. will post $2.80 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Orbotech by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,353,000 shares of the electronics maker’s stock valued at $76,755,000 after buying an additional 30,700 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Orbotech by 40.6% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,001,779 shares of the electronics maker’s stock valued at $65,298,000 after buying an additional 577,756 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Orbotech by 58.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,692,486 shares of the electronics maker’s stock valued at $55,209,000 after buying an additional 622,014 shares in the last quarter. FMR LLC raised its stake in shares of Orbotech by 8.8% in the 1st quarter. FMR LLC now owns 1,490,733 shares of the electronics maker’s stock valued at $48,076,000 after buying an additional 120,871 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Orbotech by 12.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,286,535 shares of the electronics maker’s stock valued at $41,967,000 after buying an additional 147,031 shares in the last quarter. Institutional investors own 69.92% of the company’s stock.

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About Orbotech

Orbotech Ltd. is a supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products. The Company provides cutting-edge solutions for use in the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs) and semiconductor devices (SDs). The Company’s segments include Production Solutions for the Electronics Industry, Solar Energy and Recognition Software.