Tredje AP fonden Invests $14.21 Million in Onto Innovation Inc. $ONTO

Tredje AP fonden bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,000 shares of the semiconductor company’s stock, valued at approximately $14,207,000.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after buying an additional 99 shares during the period. Danske Bank A S acquired a new stake in shares of Onto Innovation during the third quarter worth about $39,000. Torren Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth about $49,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onto Innovation during the third quarter worth about $47,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Down 2.8%

NYSE ONTO opened at $247.33 on Wednesday. The stock has a market capitalization of $12.30 billion, a P/E ratio of 115.58, a P/E/G ratio of 1.24 and a beta of 1.70. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $316.00. The firm has a 50-day moving average price of $245.17 and a 200 day moving average price of $200.66.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Oppenheimer set a $370.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. B. Riley Financial increased their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Onto Innovation currently has an average rating of “Buy” and a consensus target price of $310.63.

Onto Innovation 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.