Onto Innovation Inc. $ONTO Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 13.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 214,629 shares of the semiconductor company’s stock after selling 34,781 shares during the quarter. Royal Bank of Canada’s holdings in Onto Innovation were worth $44,013,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after buying an additional 1,292,772 shares during the last quarter. Norges Bank acquired a new stake in Onto Innovation in the fourth quarter worth about $104,938,000. Jennison Associates LLC grew its stake in shares of Onto Innovation by 1,293.5% during the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after acquiring an additional 631,965 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Onto Innovation by 315.8% during the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock worth $97,187,000 after acquiring an additional 467,587 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Onto Innovation by 88.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after acquiring an additional 451,084 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Down 0.3%

Onto Innovation stock opened at $257.81 on Monday. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 120.47, a price-to-earnings-growth ratio of 1.06 and a beta of 1.59. The stock has a 50-day moving average price of $295.17 and a 200 day moving average price of $253.80.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Onto Innovation’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts anticipate that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. B. Riley Financial boosted their target price 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $350.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Onto Innovation in a research note on Friday, July 24th. Finally, Cantor Fitzgerald boosted their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Onto Innovation currently has an average rating of “Buy” and an average price target of $339.60.

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.