Onto Innovation Inc. $ONTO Shares Purchased by Brilliance Asset Management Ltd.

Brilliance Asset Management Ltd. increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,447 shares of the semiconductor company’s stock after purchasing an additional 30,846 shares during the period. Onto Innovation accounts for about 15.5% of Brilliance Asset Management Ltd.’s holdings, making the stock its 3rd biggest position. Brilliance Asset Management Ltd. owned about 0.51% of Onto Innovation worth $39,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of Onto Innovation by 20.6% in the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 58 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Onto Innovation by 1.9% in the third quarter. Advisors Asset Management Inc. now owns 5,059 shares of the semiconductor company’s stock valued at $654,000 after acquiring an additional 93 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Onto Innovation by 44.5% in the fourth quarter. Blue Trust Inc. now owns 406 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 125 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Onto Innovation by 48.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 419 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 136 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Onto Innovation stock opened at $302.36 on Friday. The company has a 50 day moving average price of $268.32 and a 200 day moving average price of $217.03. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $316.00. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 141.29, a P/E/G ratio of 1.10 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. During the same quarter last year, the business posted $1.51 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Onto Innovation Inc. will post 7.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ONTO. Evercore reiterated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Oppenheimer restated an “outperform” rating on shares of Onto Innovation in a report on Monday, June 1st. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Cantor Fitzgerald raised their target price on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $315.00.

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.