D.A. Davidson & CO. Has $697,000 Position in Onto Innovation Inc. $ONTO

D.A. Davidson & CO. grew its stake in Onto Innovation Inc. (NYSE:ONTO) by 113.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,400 shares of the semiconductor company’s stock after acquiring an additional 1,810 shares during the period. D.A. Davidson & CO.’s holdings in Onto Innovation were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after buying an additional 1,292,772 shares during the period. Norges Bank bought a new position in Onto Innovation in the 4th quarter valued at about $104,938,000. Jennison Associates LLC raised its holdings in Onto Innovation by 1,293.5% in the 4th quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock valued at $107,475,000 after acquiring an additional 631,965 shares during the period. AQR Capital Management LLC lifted its position in Onto Innovation by 315.8% during the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock worth $97,187,000 after acquiring an additional 467,587 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in 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 acquiring an additional 451,084 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ONTO. 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. Needham & Company LLC boosted their price target on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Oppenheimer increased their price objective on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $339.60.

Onto Innovation Trading Down 1.3%

Shares of ONTO opened at $291.31 on Friday. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46. The firm’s 50 day moving average is $296.34 and its 200-day moving average is $251.05. The stock has a market capitalization of $14.49 billion, a PE ratio of 136.13, a P/E/G ratio of 1.21 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 earnings per share. Equities research analysts predict 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.