Fisher Asset Management LLC Grows Stake in Onto Innovation Inc. $ONTO

Fisher Asset Management LLC increased its position in Onto Innovation Inc. (NYSE:ONTO) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 701,999 shares of the semiconductor company’s stock after purchasing an additional 45,997 shares during the quarter. Fisher Asset Management LLC’s holdings in Onto Innovation were worth $110,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Onto Innovation by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company’s stock valued at $18,806,000 after purchasing an additional 34,567 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Onto Innovation by 64.9% in the 3rd quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock valued at $15,149,000 after purchasing an additional 46,118 shares during the period. EFG Asset Management North America Corp. purchased a new position in shares of Onto Innovation in the 3rd quarter valued at approximately $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Onto Innovation by 36.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock valued at $6,613,000 after purchasing an additional 13,714 shares during the period. Finally, Eagle Rock Investment Company LLC lifted its stake in shares of Onto Innovation by 99.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 0.1%

Shares of Onto Innovation stock opened at $262.05 on Tuesday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $316.00. The stock has a market cap of $13.03 billion, a PE ratio of 122.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.70. The company has a 50-day moving average of $250.91 and a two-hundred day moving average of $204.30.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ONTO. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Cantor Fitzgerald raised their price objective on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Oppenheimer set a $370.00 price objective on Onto Innovation in a research report on Wednesday, May 6th. Finally, Needham & Company LLC raised their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation has a consensus rating of “Buy” and an average target price of $310.63.

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.