Onto Innovation Inc. $ONTO Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 79.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,150 shares of the semiconductor company’s stock after buying an additional 4,950 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Onto Innovation were worth $1,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Onto Innovation by 31.2% in the third 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 during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Onto Innovation by 64.9% in the third quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock valued at $15,149,000 after purchasing an additional 46,118 shares during the period. EFG Asset Management North America Corp. purchased a new stake in shares of Onto Innovation in the third quarter valued at about $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Onto Innovation by 36.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock valued at $6,613,000 after purchasing an additional 13,714 shares during the period. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of Onto Innovation by 99.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after purchasing an additional 5,000 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 2.0%

Shares of NYSE:ONTO opened at $271.66 on Friday. The firm’s 50 day moving average price is $242.67 and its 200 day moving average price is $198.57. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 126.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $316.00.

Onto Innovation (NYSE:ONTO) last issued its 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 for the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter last year, the company earned $1.51 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Onto Innovation Inc. will post 6.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ONTO shares. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. B. Riley Financial upped their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 13th. Oppenheimer set a $370.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.