Atom Investors LP Has $4.48 Million Holdings in Onto Innovation Inc. $ONTO

Atom Investors LP lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,349 shares of the semiconductor company’s stock after selling 6,874 shares during the period. Atom Investors LP owned 0.06% of Onto Innovation worth $4,475,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Eagle Rock Investment Company LLC lifted its holdings in Onto Innovation by 99.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after buying an additional 5,000 shares in the last quarter. CWM LLC lifted its holdings in Onto Innovation by 361.2% during the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after buying an additional 15,717 shares in the last quarter. AI Squared Management Ltd acquired a new position in Onto Innovation during the 3rd quarter worth $7,792,000. Fisher Asset Management LLC lifted its holdings in Onto Innovation by 22.1% during the 3rd quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock worth $84,769,000 after buying an additional 118,642 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Onto Innovation during the 3rd quarter worth $3,436,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Cantor Fitzgerald upped their price objective on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price objective on the stock. Finally, B. Riley Financial upped their price objective on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $320.60.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $316.49 on Wednesday. The firm has a fifty day moving average of $274.99 and a two-hundred day moving average of $221.01. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of 147.89, a PEG ratio of 1.38 and a beta of 1.62. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $348.76.

Onto Innovation (NYSE:ONTO) last issued its 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. The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS. As a group, research analysts forecast that Onto Innovation Inc. will post 7.11 EPS 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.