New Age Alpha Advisors LLC Purchases Shares of 5,974 Onto Innovation Inc. $ONTO

New Age Alpha Advisors LLC purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,974 shares of the semiconductor company’s stock, valued at approximately $943,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its stake in shares of Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Onto Innovation in the third quarter valued at $39,000. Covestor Ltd increased its stake in shares of Onto Innovation by 224.5% in the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 211 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $49,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $61,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 2.7%

Shares of ONTO stock opened at $266.86 on Thursday. The stock has a 50-day moving average price of $254.04 and a 200 day moving average price of $206.23. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 124.70, a PEG ratio of 1.34 and a beta of 1.70. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. Sell-side analysts predict that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ONTO shares. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. B. Riley Financial raised their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, Oppenheimer set a $370.00 target price on Onto Innovation in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $310.63.

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.