Fmr LLC Invests $4.46 Million in Orbotech Ltd

FMR LLC purchased a new stake in shares of Orbotech Ltd (NASDAQ:ORBK) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 75,000 shares of the electronics maker’s stock, valued at approximately $4,458,000. FMR LLC owned approximately 0.15% of Orbotech at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC lifted its position in shares of Orbotech by 182.0% in the second quarter. Millennium Management LLC now owns 882,010 shares of the electronics maker’s stock worth $54,508,000 after buying an additional 569,263 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Orbotech during the 2nd quarter worth about $14,484,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Orbotech during the 2nd quarter worth about $10,382,000. Perella Weinberg Partners Capital Management LP acquired a new position in Orbotech in the 3rd quarter valued at approximately $7,713,000. Finally, JPMorgan Chase & Co. raised its holdings in Orbotech by 180.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,641 shares of the electronics maker’s stock valued at $11,272,000 after acquiring an additional 122,069 shares in the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.

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YAVNE, ISRAEL — Orbotech has acquired all outstanding shares in Frontline PCB Solutions for $85 million in cash plus the potential of future payments based on corporate performance objectives, the company reported.

Orbotech, was a 50% owner of the joint venture, will also pay up to $30 million in future performance payments to Mentor. Mentor was acquired by Siemens in 2017.

The move comes even as Orbotech is undergoing regulatory approvals to be acquired by KLA-Tencor. That deal is pending approval from China officials.

Frontline is a leading provider of CAM software for PCB fabrication.

About Orbotech

Orbotech Ltd. provides yield-enhancing and process-enabling solutions for the manufacture of printed circuit boards (PCBs), flat panel displays (FPDs), semiconductor devices (SDs), and other electronic components in China, Taiwan, North America, Europe, Japan, Korea, and internationally. It operates through three segments: Production Solutions for the Electronics Industry, Solar Energy, and Recognition Software.

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