K.J. Harrison & Partners Inc Takes $820,000 Position in Onto Innovation Inc. $ONTO

K.J. Harrison & Partners Inc acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,000 shares of the semiconductor company’s stock, valued at approximately $820,000.

Several other institutional investors and hedge funds have also made changes to their positions in ONTO. Wellington Management Group LLP boosted its position in shares of Onto Innovation by 1,217.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after purchasing an additional 1,292,772 shares during the period. Franklin Resources Inc. lifted its stake in Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after buying an additional 238,500 shares during the last quarter. Geode Capital Management LLC lifted its stake in Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock valued at $178,024,000 after buying an additional 352,316 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in shares of Onto Innovation by 1.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock valued at $177,725,000 after acquiring an additional 12,999 shares during the period. Finally, Geneva Capital Management LLC grew its position in shares of Onto Innovation by 0.3% during the third quarter. Geneva Capital Management LLC now owns 1,084,447 shares of the semiconductor company’s stock worth $140,132,000 after acquiring an additional 2,785 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Up 0.4%

Shares of NYSE ONTO opened at $308.87 on Friday. The firm has a 50-day moving average price of $293.78 and a 200 day moving average price of $236.75. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 144.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS 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 for the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the previous year, the company earned $1.51 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent research reports. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Cantor Fitzgerald increased their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Evercore reissued an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.60.

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.