General American Investors Co. Inc. Purchases New Position in Onto Innovation Inc. $ONTO

General American Investors Co. Inc. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 80,000 shares of the semiconductor company’s stock, valued at approximately $12,629,000.

A number of other hedge funds also recently bought and sold shares of ONTO. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock worth $732,342,000 after acquiring an additional 294,393 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Onto Innovation by 80.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after acquiring an additional 882,901 shares during the period. Wellington Management Group LLP grew its holdings in shares of Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after acquiring an additional 1,292,772 shares during the period. Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.4% during the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock worth $213,585,000 after acquiring an additional 238,500 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Onto Innovation by 45.4% during the 4th quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after acquiring an additional 352,316 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Cantor Fitzgerald upped 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. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Needham & Company LLC upped their target price on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Finally, Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Onto Innovation currently has an average rating of “Buy” and an average target price of $315.00.

Onto Innovation Stock Up 6.6%

Shares of ONTO opened at $323.62 on Friday. The business’s 50 day moving average price is $270.56 and its 200-day moving average price is $217.77. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $326.96. The stock has a market cap of $16.10 billion, a P/E ratio of 151.23, a P/E/G ratio of 1.33 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Onto Innovation Inc. will post 7.11 EPS for the current year.

Onto Innovation Company 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.