AMI Asset Management Corp Makes New Investment in Onto Innovation Inc. $ONTO

AMI Asset Management Corp acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,542 shares of the semiconductor company’s stock, valued at approximately $521,000.

A number of other institutional investors also recently modified their holdings of ONTO. Eagle Rock Investment Company LLC lifted its position in shares of Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after purchasing an additional 5,000 shares in the last quarter. CWM LLC increased its holdings in shares of Onto Innovation by 361.2% in the fourth 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 in the last quarter. AI Squared Management Ltd acquired a new stake in shares of Onto Innovation in the third quarter valued at approximately $7,792,000. Fisher Asset Management LLC raised 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 bought a new position in Onto Innovation in the 3rd quarter worth approximately $3,436,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

ONTO opened at $350.73 on Tuesday. The company has a fifty day moving average price of $290.29 and a two-hundred day moving average price of $232.35. The firm has a market capitalization of $17.45 billion, a PE ratio of 163.89, a P/E/G ratio of 1.32 and a beta of 1.63. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $353.18.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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 the consensus estimate of $292.00 million. During the same quarter in the prior year, the business posted $1.51 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Oppenheimer increased their price objective on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Morgan Stanley assumed coverage on Onto Innovation in a report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Needham & Company LLC lifted their price objective on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. One research 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. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.60.

Onto Innovation Company 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.