Guardian Point Capital LP Takes $25.26 Million Position in Onto Innovation Inc. $ONTO

Guardian Point Capital LP purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel reports. The firm purchased 160,000 shares of the semiconductor company’s stock, valued at approximately $25,258,000. Onto Innovation accounts for about 7.8% of Guardian Point Capital LP’s holdings, making the stock its 7th largest position.

Several other large investors have also modified their holdings of the business. Parallel Advisors LLC grew its position in shares of Onto Innovation by 20.6% in the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 58 shares during the last quarter. Root Financial Partners LLC grew its position in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Onto Innovation by 8.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 92 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Onto Innovation by 1.9% in the third quarter. Advisors Asset Management Inc. now owns 5,059 shares of the semiconductor company’s stock valued at $654,000 after purchasing an additional 93 shares during the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $316.49 on Wednesday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $348.76. The firm’s 50 day moving average price is $274.99 and its 200 day moving average price is $221.01. The firm has a market cap of $15.74 billion, a P/E ratio of 147.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62.

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, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same quarter last year, the business earned $1.51 earnings per share. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 7.11 EPS for the current year.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research reports. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Oppenheimer restated an “outperform” rating on shares of Onto Innovation in a research report on Monday, June 1st. Morgan Stanley assumed coverage on shares of Onto Innovation in a research report on Sunday. They set an “overweight” rating and a $371.00 target price on the stock. Finally, B. Riley Financial raised 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. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.60.

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.