Onto Innovation Inc. $ONTO Stock Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 114.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,336 shares of the semiconductor company’s stock after buying an additional 8,736 shares during the period. Pictet Asset Management Holding SA’s holdings in Onto Innovation were worth $3,350,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Onto Innovation by 20.6% in the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 58 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Onto Innovation by 8.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 92 shares during the period. Transamerica Financial Advisors LLC boosted its position in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the period. Finally, Blue Trust Inc. boosted its position in Onto Innovation by 44.5% during the 4th quarter. Blue Trust Inc. now owns 406 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 0.4%

Shares of NYSE:ONTO opened at $308.87 on Friday. The company has a 50 day moving average of $293.78 and a 200-day moving average of $236.75. The firm has a market cap of $15.36 billion, a P/E ratio of 144.33, a P/E/G ratio of 1.26 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ONTO shares. Evercore reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. Cantor Fitzgerald upped their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Oppenheimer lifted their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $339.60.

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.