Berbice Capital Management LLC Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Berbice Capital Management LLC raised its position in Onto Innovation Inc. (NYSE:ONTO) by 33.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400 shares of the semiconductor company’s stock after acquiring an additional 100 shares during the quarter. Berbice Capital Management LLC’s holdings in Onto Innovation were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after acquiring an additional 76,233 shares during the period. JPMorgan Chase & Co. increased its position in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. increased its position in shares of Onto Innovation by 21.2% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after acquiring an additional 444,860 shares during the period. Finally, Invesco Ltd. increased its position in shares of Onto Innovation by 33.9% in the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after acquiring an additional 356,161 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ONTO. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Oppenheimer decreased their price target on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Benchmark decreased their price target on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wall Street Zen raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Finally, Cantor Fitzgerald decreased their price target on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Onto Innovation Stock Performance

Shares of ONTO opened at $101.85 on Friday. The stock has a market cap of $4.97 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93. The firm’s 50-day simple moving average is $99.76 and its two-hundred day simple moving average is $136.43.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million for the quarter, compared to analysts’ expectations of $267.03 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.