Franklin Resources Inc. acquired a new stake in shares of Orbotech Ltd (NASDAQ:ORBK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 478,157 shares of the electronics maker’s stock, valued at approximately $24,023,000. Franklin Resources Inc. owned 1.00% of Orbotech at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Renaissance Technologies LLC raised its position in Orbotech by 14.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,642,800 shares of the electronics maker’s stock valued at $132,774,000 after purchasing an additional 324,200 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in Orbotech by 533.1% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,339,617 shares of the electronics maker’s stock valued at $117,542,000 after purchasing an additional 1,970,082 shares during the period. JPMorgan Chase & Co. raised its position in Orbotech by 929.6% during the third quarter. JPMorgan Chase & Co. now owns 1,146,419 shares of the electronics maker’s stock valued at $48,196,000 after purchasing an additional 1,035,068 shares during the period. Westfield Capital Management Co. LP raised its position in Orbotech by 110.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,044,286 shares of the electronics maker’s stock valued at $44,079,000 after purchasing an additional 546,909 shares during the period. Finally, Neumeier Poma Investment Counsel LLC raised its position in Orbotech by 20.2% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 826,005 shares of the electronics maker’s stock valued at $34,866,000 after purchasing an additional 139,035 shares during the period. Institutional investors and hedge funds own 74.72% of the company’s stock.

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Shares of Orbotech Ltd (ORBK) opened at $62.93 on Friday. The company has a quick ratio of 2.70, a current ratio of 3.37 and a debt-to-equity ratio of 0.06. Orbotech Ltd has a fifty-two week low of $30.25 and a fifty-two week high of $65.75. The firm has a market capitalization of $3,143.45, a P/E ratio of 23.22, a PEG ratio of 1.05 and a beta of 0.71.

Orbotech (NASDAQ:ORBK) last issued its quarterly earnings results on Wednesday, February 14th. The electronics maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Orbotech had a return on equity of 15.98% and a net margin of 14.69%. The firm had revenue of $256.90 million for the quarter, compared to the consensus estimate of $256.02 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. research analysts anticipate that Orbotech Ltd will post 3.3 EPS for the current year.

ORBK has been the topic of a number of recent research reports. ValuEngine downgraded Orbotech from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub upgraded Orbotech from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Lake Street Capital restated a “buy” rating and set a $62.00 price objective (up from $52.00) on shares of Orbotech in a research report on Monday, January 22nd. Jefferies Group downgraded Orbotech from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research report on Tuesday. Finally, Needham & Company LLC downgraded Orbotech from a “buy” rating to a “hold” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $54.44.

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Orbotech 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.

Institutional Ownership by Quarter for Orbotech (NASDAQ:ORBK)

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