Corient Private Wealth LLC Buys 8,735 Shares of Onto Innovation Inc. $ONTO

Corient Private Wealth LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 450.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,676 shares of the semiconductor company’s stock after purchasing an additional 8,735 shares during the quarter. Corient Private Wealth LLC’s holdings in Onto Innovation were worth $1,689,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Wellington Management Group LLP raised 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 worth $180,778,000 after purchasing an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Onto Innovation by 21.4% in the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after buying an additional 238,500 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Onto Innovation by 45.4% in the 4th quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after buying an additional 352,316 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Onto Innovation by 1.2% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock worth $177,725,000 after acquiring an additional 12,999 shares in the last quarter. Finally, Geneva Capital Management LLC raised its stake in shares of Onto Innovation by 0.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,084,447 shares of the semiconductor company’s stock worth $140,132,000 after acquiring an additional 2,785 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ONTO. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Oppenheimer increased their price objective on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Needham & Company LLC boosted their target price on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Zacks Research lowered Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $339.60.

Onto Innovation Stock Performance

ONTO stock opened at $378.48 on Wednesday. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46. The firm’s fifty day moving average is $292.05 and its 200 day moving average is $233.83. The firm has a market cap of $18.83 billion, a PE ratio of 176.86, a P/E/G ratio of 1.43 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last posted 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. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 EPS. Research analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

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.