Monolith Management Ltd cut its stake in shares of Onto Innovation Inc. (NYSE:ONTO – Free Report) by 97.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the semiconductor company’s stock after selling 90,805 shares during the quarter. Onto Innovation comprises approximately 0.1% of Monolith Management Ltd’s portfolio, making the stock its 18th biggest position. Monolith Management Ltd’s holdings in Onto Innovation were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Onto Innovation by 5.5% during the third quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock valued at $732,342,000 after acquiring an additional 294,393 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Onto Innovation by 80.3% during the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock valued at $256,083,000 after acquiring an additional 882,901 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after acquiring an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Onto Innovation by 21.4% during the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after acquiring an additional 238,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Onto Innovation by 45.4% during the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock valued at $178,024,000 after acquiring an additional 352,316 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ONTO shares. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Morgan Stanley began coverage on Onto Innovation in a report on Sunday. They issued an “overweight” rating and a $371.00 price objective for the company. Needham & Company LLC lifted their price objective on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial lifted their price objective on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Buy” and a consensus target price of $320.60.
Onto Innovation Stock Performance
NYSE ONTO opened at $316.49 on Wednesday. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $348.76. The stock has a 50-day moving average of $274.99 and a 200 day moving average of $221.01. The company has a market capitalization of $15.74 billion, a price-to-earnings ratio of 147.89, a PEG ratio of 1.38 and a beta of 1.62.
Onto Innovation (NYSE:ONTO – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. On average, equities analysts predict that Onto Innovation Inc. will post 7.11 earnings per share for the current fiscal year.
About Onto Innovation
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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