Future Fund LLC Has $4.37 Million Stake in Onto Innovation Inc. $ONTO

Future Fund LLC lifted its stake in Onto Innovation Inc. (NYSE:ONTO) by 44.6% in the 1st quarter, HoldingsChannel reports. The firm owned 21,293 shares of the semiconductor company’s stock after buying an additional 6,566 shares during the quarter. Onto Innovation accounts for 1.5% of Future Fund LLC’s portfolio, making the stock its 8th biggest position. Future Fund LLC’s holdings in Onto Innovation were worth $4,367,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Onto Innovation by 32.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 359,998 shares of the semiconductor company’s stock valued at $76,219,000 after buying an additional 88,388 shares during the period. D.A. Davidson & CO. lifted its holdings in Onto Innovation by 113.8% in the first quarter. D.A. Davidson & CO. now owns 3,400 shares of the semiconductor company’s stock worth $697,000 after buying an additional 1,810 shares during the period. Sanctuary Advisors LLC lifted its holdings in Onto Innovation by 32.5% in the first quarter. Sanctuary Advisors LLC now owns 4,095 shares of the semiconductor company’s stock worth $840,000 after buying an additional 1,005 shares during the period. State of Michigan Retirement System boosted its position in Onto Innovation by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 11,900 shares of the semiconductor company’s stock valued at $2,440,000 after acquiring an additional 300 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Onto Innovation during the 1st quarter worth approximately $281,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. B. Riley Financial lifted their price target on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Cantor Fitzgerald upped their price target on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $339.60.

Onto Innovation Stock Performance

Shares of ONTO opened at $279.05 on Friday. The stock has a market cap of $13.88 billion, a PE ratio of 130.40, a price-to-earnings-growth ratio of 1.15 and a beta of 1.55. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46. The firm’s 50-day simple moving average is $295.47 and its two-hundred day simple moving average is $246.75.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter last year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current year.

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.