Janus Henderson Group PLC Lowers Position in Onto Innovation Inc. $ONTO

Janus Henderson Group PLC reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 27.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 68,999 shares of the semiconductor company’s stock after selling 25,872 shares during the quarter. Janus Henderson Group PLC’s holdings in Onto Innovation were worth $14,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Millstone Evans Group LLC boosted its stake in shares of Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. Transamerica Financial Advisors LLC increased its stake in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after buying an additional 115 shares during the period. Root Financial Partners LLC increased its stake in Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Onto Innovation in the 4th quarter valued at approximately $39,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

NYSE:ONTO opened at $288.64 on Wednesday. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46. The firm has a market capitalization of $14.36 billion, a PE ratio of 134.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. The business’s fifty day moving average price is $295.61 and its 200 day moving average price is $254.91.

Onto Innovation (NYSE:ONTO) last announced its quarterly 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. The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. As a group, equities analysts anticipate that Onto Innovation Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

ONTO has been the subject of several research reports. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Onto Innovation in a report on Friday, July 24th. Morgan Stanley began coverage on Onto Innovation in a report on Sunday, June 14th. They set an “overweight” rating and a $371.00 price target on the stock. Finally, Oppenheimer increased their price target on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $339.60.

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.