Stephens Investment Management Group LLC Invests $27.76 Million in Onto Innovation Inc. $ONTO

Stephens Investment Management Group LLC bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the first quarter, Holdings Channel reports. The firm bought 135,369 shares of the semiconductor company’s stock, valued at approximately $27,760,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Onto Innovation by 312.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 3,122 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after purchasing an additional 208,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after purchasing an additional 13,175 shares during the last quarter. Cetera Investment Advisers increased its position in Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 238 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Onto Innovation by 182.4% during the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 4,283 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on ONTO shares. Zacks Research cut shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Oppenheimer lifted their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Evercore reissued an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Finally, B. Riley Financial upped their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.60.

Onto Innovation Trading Up 0.4%

ONTO stock opened at $308.87 on Monday. The stock has a market cap of $15.36 billion, a PE ratio of 144.33, a P/E/G ratio of 1.26 and a beta of 1.55. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46. The company has a 50-day moving average price of $293.78 and a 200 day moving average price of $237.32.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter last year, the firm earned $1.51 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current year.

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.