Geode Capital Management LLC Has $178.02 Million Stock Position in Onto Innovation Inc. $ONTO

Geode Capital Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 45.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,127,532 shares of the semiconductor company’s stock after acquiring an additional 352,316 shares during the period. Geode Capital Management LLC owned 2.30% of Onto Innovation worth $178,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its holdings in Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Danske Bank A S bought a new position in Onto Innovation in the third quarter worth approximately $39,000. Covestor Ltd boosted its holdings in Onto Innovation by 224.5% in the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 211 shares in the last quarter. Torren Management LLC bought a new position in Onto Innovation in the fourth quarter worth approximately $49,000. Finally, Flagship Harbor Advisors LLC bought a new position in Onto Innovation in the fourth quarter worth approximately $61,000. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

ONTO has been the topic of several recent research reports. B. Riley Financial increased their price target on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. Finally, Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Stock Up 1.0%

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

Onto Innovation (NYSE:ONTO) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $1.51 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Onto Innovation Inc. will post 7.05 earnings per share for the current fiscal 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.