Guardian Point Capital LP bought a new stake in Onto Innovation Inc. (NYSE:ONTO – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 160,000 shares of the semiconductor company’s stock, valued at approximately $25,258,000. Onto Innovation comprises approximately 7.8% of Guardian Point Capital LP’s holdings, making the stock its 7th largest holding. Guardian Point Capital LP owned 0.33% of Onto Innovation at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC raised its holdings in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 128 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at about $39,000. Finally, Danske Bank A S purchased a new stake in shares of Onto Innovation in the third quarter valued at about $39,000. 98.35% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ONTO. Zacks Research cut shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Monday. Morgan Stanley began coverage on shares of Onto Innovation in a report on Sunday. They set an “overweight” rating and a $371.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price target for the company. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.60.
Onto Innovation Trading Down 5.8%
Shares of Onto Innovation stock opened at $316.49 on Wednesday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $348.76. The stock has a market cap of $15.74 billion, a PE ratio of 147.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62. The company has a 50-day moving average of $274.99 and a two-hundred day moving average of $221.01.
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same period last year, the company posted $1.51 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Onto Innovation Inc. will post 7.11 EPS for the current fiscal year.
Onto Innovation Company Profile
Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.
Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.
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