Onto Innovation Inc. $ONTO Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its position in Onto Innovation Inc. (NYSE:ONTO) by 81.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,645 shares of the semiconductor company’s stock after purchasing an additional 29,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Onto Innovation were worth $13,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after buying an additional 1,292,772 shares during the last quarter. Franklin Resources Inc. raised its stake in Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after buying an additional 238,500 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Onto Innovation by 45.4% during the 4th quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after buying an additional 352,316 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of Onto Innovation by 1.2% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock worth $177,725,000 after acquiring an additional 12,999 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Onto Innovation by 88.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock worth $151,689,000 after acquiring an additional 451,084 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ONTO shares. Morgan Stanley started coverage on Onto Innovation in a report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target for the company. Evercore reissued an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. B. Riley Financial boosted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Oppenheimer increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $339.60.

Onto Innovation Price Performance

Shares of ONTO traded up $4.51 during midday trading on Friday, reaching $321.53. 903,338 shares of the stock were exchanged, compared to its average volume of 1,417,770. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 150.25, a PEG ratio of 1.29 and a beta of 1.55. The business’s 50-day moving average price is $294.75 and its 200 day moving average price is $241.98.

Onto Innovation (NYSE:ONTO) last announced 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. The firm had revenue of $291.95 million during 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 business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. As a group, equities research analysts expect that Onto Innovation Inc. will post 7.14 earnings per share 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.