Kennedy Capital Management LLC Acquires 129,521 Shares of Onto Innovation Inc. $ONTO

Kennedy Capital Management LLC raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 237.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,005 shares of the semiconductor company’s stock after acquiring an additional 129,521 shares during the period. Onto Innovation comprises approximately 0.6% of Kennedy Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Kennedy Capital Management LLC’s holdings in Onto Innovation were worth $29,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Rock Investment Company LLC grew its position in Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after acquiring an additional 5,000 shares during the last quarter. CWM LLC grew its holdings in shares of Onto Innovation by 361.2% in the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after purchasing an additional 15,717 shares during the last quarter. AI Squared Management Ltd bought a new position in shares of Onto Innovation in the third quarter worth approximately $7,792,000. Fisher Asset Management LLC grew its holdings in shares of Onto Innovation by 22.1% in the third quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock worth $84,769,000 after purchasing an additional 118,642 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of Onto Innovation in the third quarter worth approximately $3,436,000. 98.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ONTO. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. B. Riley Financial raised their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Needham & Company LLC raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $315.00.

Onto Innovation Stock Up 6.6%

Onto Innovation stock opened at $323.62 on Friday. The business has a 50-day simple moving average of $270.56 and a two-hundred day simple moving average of $217.77. The company 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 Inc. has a 52-week low of $89.40 and a 52-week high of $326.96.

Onto Innovation (NYSE:ONTO) last released its quarterly 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. The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. Research analysts anticipate that Onto Innovation Inc. will post 7.11 EPS for the current fiscal 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.