What’s Orbotech Ltd. (ORBK) Upside After Forming Bullish Multiple Top Chart Pattern?

September 8, 2018 - By Lisa Delgado

Orbotech Ltd. (NASDAQ:ORBK) Logo

The stock of Orbotech Ltd. (ORBK) shows a multiple tops pattern with $63.49 target or 4.00 % above today’s $61.05 share price. The 6 months chart pattern indicates low risk for the $2.97 billion company. It was reported on Sep, 8 by Finviz.com. If the $63.49 price target is reached, the company will be worth $118.60M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.12% or $0.69 during the last trading session, reaching $61.05. About 341,593 shares traded or 3.77% up from the average. Orbotech Ltd. (NASDAQ:ORBK) has risen 82.83% since September 8, 2017 and is uptrending. It has outperformed by 70.26% the S&P500.

Analysts await Orbotech Ltd. (NASDAQ:ORBK) to report earnings on November, 7. They expect $0.86 earnings per share, 0.00 % or $0.00 from last year’s $0.86 per share. ORBK’s profit will be $41.77M for 17.75 P/E if the $0.86 EPS becomes a reality. After $0.87 actual earnings per share reported by Orbotech Ltd. for the previous quarter, Wall Street now forecasts -1.15 % negative EPS growth.

Orbotech Ltd. (NASDAQ:ORBK) Ratings Coverage

Among 4 analysts covering Orbotech Ltd (NASDAQ:ORBK), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Orbotech Ltd had 4 analyst reports since March 19, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, March 20 by Lake Street. The stock of Orbotech Ltd. (NASDAQ:ORBK) has “Hold” rating given on Tuesday, March 20 by Jefferies. On Monday, March 19 the stock rating was downgraded by Stifel Nicolaus to “Hold”. Needham downgraded the shares of ORBK in report on Monday, March 19 to “Hold” rating.

Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards , flat panel displays (FPDs), and semiconductor devices (SDs) in China, North America, Europe, Japan, Korea, and internationally. The company has market cap of $2.97 billion. It operates through three divisions: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software. It has a 18.85 P/E ratio. The firm designs, develops, makes, markets, and services direct imaging, automated optical inspection (AOI), automated optical shaping, via formation laser drilling tools, digital inkjet printing, and other production systems used in the manufacture of PCBs; AOI, test, repair, and process monitoring systems for use in the manufacture of FPDs; and etch, physical vapor deposition, and chemical vapor deposition equipment used in the manufacture of SDs, such as micro-electro-mechanical systems, advanced semiconductor packaging, power and radio frequency devices, and high brightness light emitting diode devices.

Orbotech Ltd. (NASDAQ:ORBK) Ratings Chart

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