Sei Investments Co. Grows Stock Holdings in Onto Innovation Inc. $ONTO

Sei Investments Co. lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 67.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,117 shares of the semiconductor company’s stock after acquiring an additional 28,941 shares during the period. Sei Investments Co.’s holdings in Onto Innovation were worth $14,790,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted 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 valued at $180,778,000 after acquiring an additional 1,292,772 shares in the last quarter. Norges Bank acquired a new stake in Onto Innovation in the 4th quarter valued at $104,938,000. Jennison Associates LLC increased its holdings in Onto Innovation by 1,293.5% in the 4th quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock valued at $107,475,000 after purchasing an additional 631,965 shares in the last quarter. AQR Capital Management LLC raised its position in Onto Innovation by 315.8% in the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock valued at $97,187,000 after purchasing an additional 467,587 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Onto Innovation by 88.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after purchasing an additional 451,084 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTO has been the subject of several analyst reports. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft began 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. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a research report on Friday, July 24th. Finally, Oppenheimer increased their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Buy” and an average price target of $339.60.

Onto Innovation Trading Up 14.8%

ONTO stock opened at $250.62 on Friday. The firm has a 50 day simple moving average of $295.26 and a 200-day simple moving average of $253.33. The company has a market capitalization of $12.47 billion, a P/E ratio of 117.11, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. 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 company posted $1.51 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, 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.