Bessemer Group Inc. Has $29.29 Million Stock Position in Onto Innovation Inc. $ONTO

Bessemer Group Inc. lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 18.7% during the first quarter, HoldingsChannel.com reports. The fund owned 142,835 shares of the semiconductor company’s stock after selling 32,928 shares during the period. Bessemer Group Inc.’s holdings in Onto Innovation were worth $29,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ONTO. Wellington Management Group LLP lifted its stake in Onto Innovation by 1,217.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after purchasing an additional 1,292,772 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Onto Innovation by 21.4% during the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock worth $213,585,000 after buying an additional 238,500 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Onto Innovation by 45.4% during the fourth 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 in the last quarter. Paradigm Capital Management Inc. NY increased its holdings in shares of Onto Innovation by 1.2% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock worth $177,725,000 after buying an additional 12,999 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Onto Innovation by 88.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock worth $151,689,000 after buying an additional 451,084 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONTO has been the topic of several recent research reports. Evercore reissued an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Morgan Stanley assumed coverage on Onto Innovation in a research note on Sunday, June 14th. They set an “overweight” rating and a $371.00 price target on the stock. Finally, Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Buy” and an average price target of $339.60.

Onto Innovation Stock Performance

ONTO stock opened at $279.05 on Friday. The company has a market capitalization of $13.88 billion, a P/E ratio of 130.40, a PEG ratio of 1.14 and a beta of 1.55. The company has a fifty day moving average price of $295.47 and a 200-day moving average price of $246.75. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million for 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 quarter in the previous year, the firm posted $1.51 earnings per share. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

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.