Alua Capital Management LP Invests $27.01 Million in Onto Innovation Inc. $ONTO

Alua Capital Management LP acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the first quarter, HoldingsChannel reports. The fund acquired 131,721 shares of the semiconductor company’s stock, valued at approximately $27,012,000. Onto Innovation accounts for approximately 2.4% of Alua Capital Management LP’s holdings, making the stock its 12th largest holding.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC raised 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 buying an additional 99 shares in the last quarter. 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 acquiring an additional 115 shares in the last quarter. Root Financial Partners LLC boosted its position in Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at $39,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 6.7%

NYSE:ONTO opened at $271.83 on Friday. The company has a market cap of $13.52 billion, a PE ratio of 127.02, a P/E/G ratio of 1.11 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. The company’s 50 day moving average is $296.34 and its two-hundred day moving average is $251.19.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. As a group, analysts expect that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ONTO shares. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. Zacks Research upgraded shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Morgan Stanley assumed coverage on shares of Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 target price for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $339.60.

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.