BNP Paribas Financial Markets Has $35.44 Million Stock Holdings in Onto Innovation Inc. $ONTO

BNP Paribas Financial Markets increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 224,523 shares of the semiconductor company’s stock after purchasing an additional 9,888 shares during the period. BNP Paribas Financial Markets owned approximately 0.46% of Onto Innovation worth $35,443,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after acquiring an additional 1,292,772 shares during the period. William Blair Investment Management LLC increased its stake in Onto Innovation by 80.3% during the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock valued at $256,083,000 after acquiring an additional 882,901 shares during the period. Norges Bank bought a new position in Onto Innovation during the fourth quarter valued at about $104,938,000. Jennison Associates LLC increased its stake in Onto Innovation by 1,293.5% during the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock valued at $107,475,000 after acquiring an additional 631,965 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Onto Innovation by 88.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after acquiring an additional 451,084 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer restated an “outperform” rating on shares of Onto Innovation in a research note on Monday. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Evercore restated an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a research note on Friday, April 17th. Needham & Company LLC boosted their price target on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their price target on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $310.63.

Onto Innovation Trading Up 1.0%

ONTO stock opened at $280.76 on Thursday. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $316.00. The firm has a market cap of $13.97 billion, a P/E ratio of 131.20, a P/E/G ratio of 1.31 and a beta of 1.62. The business’s 50 day moving average is $260.31 and its 200-day moving average is $210.82.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same period in the prior year, the company posted $1.51 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that Onto Innovation Inc. will post 7.05 EPS for the current year.

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.