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

A number of research firms have issued reports on ORBK. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $42.00 target price on shares of Orbotech in a research note on Tuesday, May 23rd. BidaskClub downgraded shares of Orbotech from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Orbotech from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday. Cowen and Company restated an “outperform” rating on shares of Orbotech in a research report on Monday, May 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target (up from $38.00) on shares of Orbotech in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.50.

The company has a 50 day moving average price of $37.42 and a 200-day moving average price of $34.28. The company has a market cap of $1.93 billion, a P/E ratio of 21.64 and a beta of 0.78.

Orbotech (NASDAQ:ORBK) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. Orbotech had a return on equity of 14.98% and a net margin of 11.03%. The company had revenue of $210.66 million for the quarter, compared to analyst estimates of $205.20 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Orbotech’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Orbotech Ltd. will post $2.80 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Orbotech by 293.4% during the second quarter. Legal & General Group Plc now owns 4,327 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 3,227 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Orbotech by 40.9% during the first quarter. Envestnet Asset Management Inc. now owns 5,095 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 1,479 shares during the period. Greenwood Capital Associates LLC acquired a new position in shares of Orbotech during the first quarter worth approximately $207,000. Airain ltd acquired a new position in shares of Orbotech during the second quarter worth approximately $208,000. Finally, Penserra Capital Management LLC raised its position in shares of Orbotech by 75.0% during the first quarter. Penserra Capital Management LLC now owns 6,783 shares of the electronics maker’s stock worth $218,000 after purchasing an additional 2,907 shares during the period. 69.92% of the stock is currently owned by institutional investors.

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Orbotech Company Profile

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.

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