Globeflex Capital L P Makes New $2.62 Million Investment in Onto Innovation Inc. $ONTO

Globeflex Capital L P bought a new position in Onto Innovation Inc. (NYSE:ONTO) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 12,750 shares of the semiconductor company’s stock, valued at approximately $2,615,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC boosted its position in shares of Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares during the period. Millstone Evans Group LLC raised its holdings in Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 99 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Onto Innovation during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ONTO. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research note on Friday, April 17th. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $339.60.

Onto Innovation Trading Down 1.3%

Shares of NYSE:ONTO opened at $295.19 on Thursday. The stock has a fifty day simple moving average of $296.06 and a two-hundred day simple moving average of $250.16. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 137.94, a PEG ratio of 1.22 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last released its 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 prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Onto Innovation Inc. will post 7.14 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.