Jennison Associates LLC Has $115.72 Million Stock Position in Onto Innovation Inc. $ONTO

Jennison Associates LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 564,305 shares of the semiconductor company’s stock after selling 116,517 shares during the period. Jennison Associates LLC’s holdings in Onto Innovation were worth $115,722,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Onto Innovation by 1,217.0% in 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 during the period. Norges Bank bought a new position in Onto Innovation during the fourth quarter worth $104,938,000. AQR Capital Management LLC increased its position in Onto Innovation by 315.8% during the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock worth $97,187,000 after acquiring an additional 467,587 shares during the period. Thrivent Financial for Lutherans raised its stake in Onto Innovation by 88.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after purchasing an additional 451,084 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Onto Innovation by 65.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock valued at $144,016,000 after purchasing an additional 440,035 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Down 0.9%

Shares of NYSE ONTO opened at $279.05 on Friday. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of 130.40, a PEG ratio of 1.14 and a beta of 1.55. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46. The business has a fifty day simple moving average of $295.47 and a 200 day simple moving average of $246.75.

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, topping 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 firm had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the company earned $1.51 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ONTO shares. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. B. Riley Financial boosted their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a research report on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research note on Friday, April 17th. Finally, Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Onto Innovation currently has a consensus rating of “Buy” and a consensus target price of $339.60.

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.