Sequoia Financial Advisors LLC Buys 2,150 Shares of Onto Innovation Inc. $ONTO

Sequoia Financial Advisors LLC increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,848 shares of the semiconductor company’s stock after purchasing an additional 2,150 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $3,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Wellington Management Group LLP boosted its stake in shares of Onto Innovation by 1,217.0% during 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 purchasing an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after buying an additional 882,901 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Onto Innovation by 1,293.5% in the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after buying an additional 631,965 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Onto Innovation by 65.2% in the third quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock worth $144,016,000 after buying an additional 440,035 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Onto Innovation by 342.6% in the second quarter. BNP Paribas Financial Markets now owns 566,116 shares of the semiconductor company’s stock worth $57,138,000 after buying an additional 438,217 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald boosted their target price on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. B. Riley Financial boosted their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Evercore restated an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Finally, Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Stock Up 4.0%

Shares of NYSE ONTO opened at $285.26 on Friday. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 133.30, a PEG ratio of 1.39 and a beta of 1.70. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $316.00. The business’s 50 day moving average is $234.97 and its two-hundred day moving average is $192.82.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. Analysts anticipate that Onto Innovation Inc. will post 6.83 EPS for the current fiscal year.

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.