Onto Innovation Inc. $ONTO Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 79.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,150 shares of the semiconductor company’s stock after buying an additional 4,950 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Onto Innovation were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ONTO. NewEdge Advisors LLC increased its holdings in shares of Onto Innovation by 312.5% in the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 3,122 shares during the period. Goldman Sachs Group Inc. increased its stake in Onto Innovation by 76.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after buying an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Onto Innovation by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after buying an additional 13,175 shares during the period. Cetera Investment Advisers increased its stake in Onto Innovation by 6.3% in the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 238 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Onto Innovation by 182.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after buying an additional 4,283 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Down 2.0%

Onto Innovation stock opened at $271.66 on Friday. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $316.00. The firm’s 50-day simple moving average is $242.67 and its 200 day simple moving average is $198.57. The firm has a market capitalization of $13.51 billion, a PE ratio of 126.94, a P/E/G ratio of 1.35 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 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 for the quarter, compared to analyst estimates of $292.00 million. During the same period in the previous year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 6.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of several recent research reports. Evercore reissued an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Cantor Fitzgerald boosted their price objective on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Needham & Company LLC boosted their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $310.63.

Onto Innovation 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.