Hsbc Holdings PLC Reduces Position in Onto Innovation Inc. $ONTO

Hsbc Holdings PLC trimmed its position in Onto Innovation Inc. (NYSE:ONTO) by 67.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,464 shares of the semiconductor company’s stock after selling 24,300 shares during the quarter. Hsbc Holdings PLC’s holdings in Onto Innovation were worth $1,820,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Eagle Rock Investment Company LLC boosted its holdings in shares of Onto Innovation by 99.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after acquiring an additional 5,000 shares during the period. CWM LLC increased its holdings in shares of Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 15,717 shares during the period. AI Squared Management Ltd purchased a new stake in Onto Innovation in the 3rd quarter valued at $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 valued at $84,769,000 after purchasing an additional 118,642 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in Onto Innovation in the 3rd quarter valued at $3,436,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 8.3%

Shares of ONTO opened at $350.73 on Tuesday. The stock’s 50 day moving average is $290.29 and its two-hundred day moving average is $232.35. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $353.18. 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 (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same period in the prior year, the business posted $1.51 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Cantor Fitzgerald increased their target price on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price target on the stock. Morgan Stanley started coverage on Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.