Onto Innovation Inc. $ONTO Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 600,793 shares of the semiconductor company’s stock after purchasing an additional 113,555 shares during the period. Bank of New York Mellon Corp’s holdings in Onto Innovation were worth $94,841,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ONTO. Wellington Management Group LLP increased its stake 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 purchasing an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Onto Innovation by 80.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock valued at $256,083,000 after acquiring an additional 882,901 shares during the period. Norges Bank purchased a new stake in Onto Innovation during the 4th quarter worth $104,938,000. Jennison Associates LLC increased its stake in Onto Innovation by 1,293.5% during the 4th quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after buying an additional 631,965 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Onto Innovation by 88.5% in the 4th 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 last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ONTO. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. B. Riley Financial upped their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research note on Friday. They issued a “buy” rating and a $350.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $315.00.

Onto Innovation Stock Up 6.2%

Shares of ONTO stock opened at $268.88 on Tuesday. The company’s fifty day simple moving average is $263.35 and its 200-day simple moving average is $213.76. The firm has a market cap of $13.37 billion, a PE ratio of 125.65, a P/E/G ratio of 1.20 and a beta of 1.63. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period in the previous year, the company earned $1.51 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts predict that Onto Innovation Inc. will post 7.05 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.