Royce & Associates LP Has $57.74 Million Stake in Onto Innovation Inc. $ONTO

Royce & Associates LP boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 365,735 shares of the semiconductor company’s stock after buying an additional 58,259 shares during the period. Onto Innovation makes up 0.6% of Royce & Associates LP’s holdings, making the stock its 27th biggest holding. Royce & Associates LP’s holdings in Onto Innovation were worth $57,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. lifted its holdings in Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares during the period. Danske Bank A S acquired a new position in Onto Innovation in the third quarter valued at $39,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onto Innovation in the third quarter valued at $47,000. Covestor Ltd lifted its holdings in Onto Innovation by 224.5% in the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 211 shares during the period. Finally, Torren Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Down 0.1%

ONTO opened at $262.05 on Tuesday. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $316.00. The company has a market cap of $13.03 billion, a P/E ratio of 122.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.70. The company has a fifty day moving average price of $250.91 and a two-hundred day moving average price of $204.30.

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

Analysts Set New Price Targets

Several research firms recently issued reports on ONTO. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Needham & Company LLC lifted their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial lifted their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Onto Innovation presently has a consensus rating of “Buy” and an average 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.