Onto Innovation Inc. $ONTO Shares Sold by Swedbank AB

Swedbank AB decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 46.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,600 shares of the semiconductor company’s stock after selling 38,000 shares during the period. Swedbank AB owned approximately 0.09% of Onto Innovation worth $9,146,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ONTO. NewEdge Advisors LLC increased its position in 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. boosted its position in Onto Innovation by 76.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after acquiring an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 worth $19,810,000 after purchasing an additional 13,175 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Onto Innovation by 6.3% during the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 238 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of 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 during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Cantor Fitzgerald boosted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. Evercore reiterated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.60.

Onto Innovation Trading Up 1.4%

ONTO stock traded up $4.51 during trading hours on Friday, hitting $321.53. 903,338 shares of the stock traded hands, compared to its average volume of 1,417,770. The stock has a 50-day simple moving average of $294.75 and a 200 day simple moving average of $241.98. The company has a market cap of $15.99 billion, a P/E ratio of 150.25, a P/E/G ratio of 1.29 and a beta of 1.55. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results 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 firm had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the previous year, the business earned $1.51 earnings per share. Onto Innovation’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Onto Innovation Company 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.