Dimensional Fund Advisors LP Raises Stock Holdings in Onto Innovation Inc. $ONTO

Dimensional Fund Advisors LP lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677,502 shares of the semiconductor company’s stock after purchasing an additional 28,137 shares during the period. Dimensional Fund Advisors LP’s holdings in Onto Innovation were worth $138,898,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after buying an additional 1,292,772 shares during the period. Franklin Resources Inc. raised its stake in Onto Innovation by 21.4% in the 4th quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock valued at $213,585,000 after acquiring an additional 238,500 shares during the period. Geode Capital Management LLC raised its stake in Onto Innovation by 45.4% in the 4th quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock valued at $178,024,000 after acquiring an additional 352,316 shares during the period. Paradigm Capital Management Inc. NY lifted its holdings in 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 valued at $177,725,000 after purchasing an additional 12,999 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted 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 purchasing an additional 451,084 shares during the period. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $271.83 on Monday. The company has a market capitalization of $13.52 billion, a PE ratio of 127.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.55. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46. The business’s fifty day moving average is $296.34 and its 200 day moving average is $251.71.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ONTO. Oppenheimer upped their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. B. Riley Financial lifted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research report on Wednesday, May 6th. Needham & Company LLC raised their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald lifted their price target on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Two 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’s stock. According to data from MarketBeat, Onto Innovation has an average rating of “Buy” and an average target price 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.