12,933 Shares in Onto Innovation Inc. $ONTO Purchased by Dockside LLC

Dockside LLC purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,933 shares of the semiconductor company’s stock, valued at approximately $2,042,000.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Root Financial Partners LLC raised its position in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $39,000. Finally, Danske Bank A S acquired a new stake in shares of Onto Innovation during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 6.6%

NYSE ONTO opened at $323.62 on Friday. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $326.96. The company has a 50 day moving average of $270.56 and a 200-day moving average of $217.77. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 151.23, a PEG ratio of 1.33 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating 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 analysts’ expectations of $292.00 million. During the same period in the prior year, the firm earned $1.51 earnings per share. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Onto Innovation Inc. will post 7.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ONTO. B. Riley Financial raised their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Needham & Company LLC raised 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. Oppenheimer reaffirmed an “outperform” rating on shares of Onto Innovation in a report on Monday, June 1st. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Evercore reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $315.00.

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.