DUTCH ASSET Corp Purchases Shares of 7,330 Onto Innovation Inc. $ONTO

DUTCH ASSET Corp acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 7,330 shares of the semiconductor company’s stock, valued at approximately $1,157,000. Onto Innovation accounts for approximately 0.9% of DUTCH ASSET Corp’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC lifted its stake in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after purchasing an additional 3,122 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after buying an additional 208,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 valued at $19,810,000 after buying an additional 13,175 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Onto Innovation by 6.3% in the second 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Onto Innovation by 182.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 4,283 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $333.41 on Friday. The company has a market cap of $16.58 billion, a PE ratio of 155.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.62. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $348.76. The firm has a 50 day simple moving average of $281.10 and a 200 day simple moving average of $224.40.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 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 during the quarter, compared to analyst estimates of $292.00 million. During the same quarter last year, the business posted $1.51 EPS. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Cantor Fitzgerald increased their price target on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 price target for the company. One 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. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus 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.