Rhumbline Advisers Has $17.26 Million Stake in Onto Innovation Inc. $ONTO

Rhumbline Advisers reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,540 shares of the semiconductor company’s stock after selling 9,053 shares during the period. Rhumbline Advisers owned approximately 0.27% of Onto Innovation worth $17,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY raised its holdings in Onto Innovation by 0.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock valued at $112,319,000 after acquiring an additional 7,900 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of Onto Innovation by 6.5% in 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 during the period. Qube Research & Technologies Ltd raised its stake in Onto Innovation by 1,510.2% in the second quarter. Qube Research & Technologies Ltd now owns 901,180 shares of the semiconductor company’s stock valued at $90,956,000 after purchasing an additional 845,213 shares in the last quarter. Voya Investment Management LLC raised its stake in 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 purchasing an additional 849,702 shares in the last quarter. Finally, Norges Bank bought a new stake in Onto Innovation during the second quarter worth about $71,961,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald raised shares of Onto Innovation from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $275.00 in a report on Monday. 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. Jefferies Financial Group boosted their price objective on shares of Onto Innovation from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Needham & Company LLC upped 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.88.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $220.44 on Wednesday. The company’s 50 day moving average price is $188.75 and its two-hundred day moving average price is $147.59. The firm has a market capitalization of $10.80 billion, a P/E ratio of 62.27, a P/E/G ratio of 1.20 and a beta of 1.50. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $229.87.

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.