Mitsubishi UFJ Asset Management UK Ltd. Acquires Shares of 9,500 Onto Innovation Inc. $ONTO

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,500 shares of the semiconductor company’s stock, valued at approximately $1,500,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC lifted its holdings in Onto Innovation by 1.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 75 shares during the last quarter. Amalgamated Bank lifted its holdings in Onto Innovation by 0.3% during the third quarter. Amalgamated Bank now owns 22,663 shares of the semiconductor company’s stock valued at $2,929,000 after purchasing an additional 79 shares during the last quarter. Palisades Investment Partners LLC lifted its holdings in Onto Innovation by 0.4% during the third quarter. Palisades Investment Partners LLC now owns 20,206 shares of the semiconductor company’s stock valued at $2,611,000 after purchasing an additional 84 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Onto Innovation by 1.9% during the third quarter. Advisors Asset Management Inc. now owns 5,059 shares of the semiconductor company’s stock valued at $654,000 after purchasing an additional 93 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 2.8%

Shares of ONTO opened at $247.33 on Wednesday. The business’s 50-day moving average price is $245.17 and its 200-day moving average price is $200.66. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $316.00. The stock has a market cap of $12.30 billion, a PE ratio of 115.58, a P/E/G ratio of 1.24 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $291.95 million for 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%.The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. Analysts expect that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several analyst reports. Needham & Company LLC upped their price target on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial upped 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. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Cantor Fitzgerald upped their price target on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Onto Innovation presently has an average rating of “Buy” and an average target price of $310.63.

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.