7,330 Shares in Onto Innovation Inc. $ONTO Acquired by DUTCH ASSET Corp

DUTCH ASSET Corp acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,330 shares of the semiconductor company’s stock, valued at approximately $1,157,000. Onto Innovation accounts for about 0.9% of DUTCH ASSET Corp’s investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in ONTO. Eagle Rock Investment Company LLC lifted its position in Onto Innovation by 99.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after purchasing an additional 5,000 shares during the last quarter. CWM LLC boosted its stake in Onto Innovation by 361.2% during the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after purchasing an additional 15,717 shares during the period. AI Squared Management Ltd bought a new position in Onto Innovation in the 3rd quarter worth about $7,792,000. Fisher Asset Management LLC grew its position in Onto Innovation by 22.1% in the 3rd quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock worth $84,769,000 after purchasing an additional 118,642 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Onto Innovation in the third quarter valued at approximately $3,436,000. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ONTO shares. Oppenheimer reaffirmed an “outperform” rating on shares of Onto Innovation in a report on Monday, June 1st. Needham & Company LLC raised their target price on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald boosted their price target on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.60.

Onto Innovation Price Performance

NYSE ONTO opened at $333.41 on Friday. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $348.76. The firm has a market capitalization of $16.58 billion, a PE ratio of 155.80, a P/E/G ratio of 1.36 and a beta of 1.62. The company’s 50 day simple moving average is $281.10 and its 200 day simple moving average is $224.40.

Onto Innovation (NYSE:ONTO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 earnings per share. Sell-side analysts anticipate that Onto Innovation Inc. will post 7.14 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.