5,035 Shares in Onto Innovation Inc. $ONTO Acquired by Ethic Inc.

Ethic Inc. bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,035 shares of the semiconductor company’s stock, valued at approximately $795,000.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Onto Innovation by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company’s stock valued at $18,806,000 after buying an additional 34,567 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Onto Innovation by 64.9% during the 3rd quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock worth $15,149,000 after purchasing an additional 46,118 shares in the last quarter. EFG Asset Management North America Corp. acquired a new stake in shares of Onto Innovation during the 3rd quarter worth $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Onto Innovation by 36.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock worth $6,613,000 after purchasing an additional 13,714 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of Onto Innovation by 99.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after purchasing an additional 5,000 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Up 0.1%

Shares of ONTO stock opened at $277.29 on Friday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $316.00. The company has a market cap of $13.79 billion, a P/E ratio of 129.57, a P/E/G ratio of 1.35 and a beta of 1.70. The business has a fifty day simple moving average of $241.42 and a 200 day simple moving average of $198.05.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping 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 company earned $1.51 EPS. Onto Innovation’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Jefferies Financial Group reissued a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. B. Riley Financial increased their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation currently has an average rating of “Buy” and a consensus price target of $310.63.

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.