Allspring Global Investments Holdings LLC Grows Stock Position in Onto Innovation Inc. $ONTO

Allspring Global Investments Holdings LLC boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 32.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,998 shares of the semiconductor company’s stock after buying an additional 88,388 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Onto Innovation were worth $76,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ONTO. Root Financial Partners LLC raised its position in 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 period. Transamerica Financial Advisors LLC boosted its holdings 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 acquiring an additional 115 shares during the period. Millstone Evans Group LLC increased its stake in Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 99 shares during the period. CIBC Private Wealth Group LLC increased its stake in Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 128 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Onto Innovation during the fourth quarter worth $39,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 0.9%

ONTO opened at $279.05 on Friday. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46. The company has a market cap of $13.88 billion, a P/E ratio of 130.40, a price-to-earnings-growth ratio of 1.15 and a beta of 1.55. The firm’s 50-day moving average price is $295.47 and its 200-day moving average price is $246.75.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Morgan Stanley began coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective for the company. Cantor Fitzgerald upped 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, June 29th. Finally, Oppenheimer raised their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Onto Innovation has an average rating of “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.