Clough Capital Partners L P purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,831 shares of the semiconductor company’s stock, valued at approximately $1,811,000.
Several other institutional investors and hedge funds have also made changes to their positions in ONTO. Root Financial Partners LLC increased its stake in shares of Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. Transamerica Financial Advisors LLC lifted its position in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares during the period. Millstone Evans Group LLC boosted its stake in Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Onto Innovation during the 4th quarter valued at $39,000. 98.35% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ONTO has been the topic of a number of research reports. Cantor Fitzgerald boosted their price objective on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Oppenheimer boosted their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. B. Riley Financial raised their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $339.60.
Onto Innovation Stock Down 0.3%
Shares of NYSE ONTO opened at $271.83 on Monday. The stock’s fifty day simple moving average is $296.34 and its 200 day simple moving average is $251.71. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 127.02, a PEG ratio of 1.11 and a beta of 1.55. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46.
Onto Innovation (NYSE:ONTO – Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same period in the prior year, the business posted $1.51 earnings per share. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current 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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