Monolith Management Ltd Reduces Stock Holdings in Onto Innovation Inc. $ONTO

Monolith Management Ltd decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 97.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the semiconductor company’s stock after selling 90,805 shares during the quarter. Onto Innovation comprises approximately 0.1% of Monolith Management Ltd’s portfolio, making the stock its 18th biggest position. Monolith Management Ltd’s holdings in Onto Innovation were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Root Financial Partners LLC lifted its stake in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 74 shares during the period. Transamerica Financial Advisors LLC lifted 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 acquiring an additional 115 shares during the period. CIBC Private Wealth Group LLC lifted its stake 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 acquiring an additional 128 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Onto Innovation in the fourth quarter worth $39,000. Finally, Danske Bank A S purchased a new stake in Onto Innovation in the third quarter worth $39,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 5.8%

ONTO opened at $316.49 on Wednesday. The stock has a fifty day simple moving average of $274.99 and a two-hundred day simple moving average of $221.01. The company has a market cap of $15.74 billion, a price-to-earnings ratio of 147.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $348.76.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. On average, analysts predict that Onto Innovation Inc. will post 7.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ONTO shares. Oppenheimer reaffirmed an “outperform” rating on shares of Onto Innovation in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft started coverage on Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 price target for the company. Cantor Fitzgerald raised their price target on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Evercore reiterated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Finally, B. Riley Financial increased their price objective on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $320.60.

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.