14,400 Shares in Onto Innovation Inc. $ONTO Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Onto Innovation Inc. (NYSE:ONTO) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,400 shares of the semiconductor company’s stock, valued at approximately $2,953,000.

A number of other hedge funds have also added to or reduced their stakes in ONTO. William Blair Investment Management LLC grew its holdings in shares of Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after acquiring an additional 882,901 shares during the period. Wellington Management Group LLP lifted its holdings in Onto Innovation by 1,217.0% in 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. Franklin Resources Inc. lifted its holdings in Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after acquiring an additional 238,500 shares during the period. Geode Capital Management LLC boosted its position in Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after purchasing an additional 352,316 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its position in Onto Innovation by 1.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock worth $177,725,000 after purchasing an additional 12,999 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research reports. Needham & Company LLC upped their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Oppenheimer increased their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Evercore reissued an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price for the company. Finally, B. Riley Financial increased their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $328.60.

Onto Innovation Stock Down 0.0%

ONTO stock opened at $323.79 on Monday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $353.18. The stock has a market cap of $16.11 billion, a P/E ratio of 151.30, a PEG ratio of 1.32 and a beta of 1.63. The business’s 50-day moving average price is $288.60 and its 200-day moving average price is $231.02.

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

Onto Innovation Profile

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.