Onto Innovation Inc. $ONTO Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,247 shares of the semiconductor company’s stock after purchasing an additional 29,229 shares during the quarter. Pacer Advisors Inc.’s holdings in Onto Innovation were worth $74,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC lifted its holdings in shares of Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the period. Millstone Evans Group LLC grew its stake in Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after buying an additional 99 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Onto Innovation in the fourth quarter worth $39,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ONTO shares. Needham & Company LLC raised their target price on 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 lowered shares of Onto Innovation from a “buy” rating to a “hold” rating in a research report on Saturday. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Zacks Research upgraded shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $350.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Onto Innovation has an average rating of “Buy” and an average price target of $339.60.

Onto Innovation Trading Down 0.3%

Shares of NYSE ONTO opened at $257.81 on Monday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The firm has a 50-day moving average of $295.17 and a two-hundred day moving average of $253.80. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 120.47, a PEG ratio of 1.06 and a beta of 1.59.

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 company had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter in the previous year, the company posted $1.51 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict 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.