SG Capital Management LLC Takes Position in Onto Innovation Inc. $ONTO

SG Capital Management LLC acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 270,846 shares of the semiconductor company’s stock, valued at approximately $34,999,000. Onto Innovation comprises about 3.1% of SG Capital Management LLC’s portfolio, making the stock its 10th largest position. SG Capital Management LLC owned 0.55% of Onto Innovation at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Onto Innovation by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock valued at $732,342,000 after buying an additional 294,393 shares during the period. Paradigm Capital Management Inc. NY raised its position in Onto Innovation by 0.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock valued at $112,319,000 after purchasing an additional 7,900 shares during the period. Geneva Capital Management LLC lifted its stake in Onto Innovation by 6.5% during the second quarter. Geneva Capital Management LLC now owns 1,081,662 shares of the semiconductor company’s stock worth $109,172,000 after purchasing an additional 66,339 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Onto Innovation by 1,510.2% during the second quarter. Qube Research & Technologies Ltd now owns 901,180 shares of the semiconductor company’s stock worth $90,956,000 after buying an additional 845,213 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Onto Innovation by 4,494.6% in the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company’s stock valued at $111,974,000 after buying an additional 849,702 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 0.4%

ONTO opened at $221.08 on Thursday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 62.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50. The business’s 50 day moving average is $189.80 and its two-hundred day moving average is $148.10. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $229.87.

Analyst Ratings Changes

Several research firms recently issued reports on ONTO. Needham & Company LLC increased their target price on Onto Innovation from $200.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Jefferies Financial Group boosted their price target on shares of Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. B. Riley Financial increased their price target on shares of Onto Innovation from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Zacks Research upgraded shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, Evercore increased their price objective on Onto Innovation from $115.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.25.

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.