Onto Innovation Inc. $ONTO Position Trimmed by Bridge City Capital LLC

Bridge City Capital LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,405 shares of the semiconductor company’s stock after selling 4,937 shares during the period. Onto Innovation makes up about 2.0% of Bridge City Capital LLC’s portfolio, making the stock its 10th biggest position. Bridge City Capital LLC owned approximately 0.09% of Onto Innovation worth $6,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Onto Innovation during the 4th quarter worth approximately $206,000. Transamerica Financial Advisors LLC grew 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 worth $28,000 after purchasing an additional 115 shares during the last quarter. Marshall Wace LLP grew its position in Onto Innovation by 132.5% during the 4th quarter. Marshall Wace LLP now owns 429,693 shares of the semiconductor company’s stock worth $67,831,000 after purchasing an additional 244,883 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Onto Innovation by 30.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 399,205 shares of the semiconductor company’s stock worth $63,019,000 after purchasing an additional 93,977 shares during the last quarter. Finally, Bridgewater Associates LP grew its position in Onto Innovation by 45.5% during the 4th quarter. Bridgewater Associates LP now owns 93,136 shares of the semiconductor company’s stock worth $14,702,000 after purchasing an additional 29,115 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. 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. B. Riley Financial boosted their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. Evercore reissued an “outperform” rating and set a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. Finally, Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $315.00.

Onto Innovation Price Performance

ONTO stock opened at $323.62 on Friday. The firm’s fifty day simple moving average is $270.56 and its 200-day simple moving average is $217.77. The company has a market capitalization of $16.10 billion, a P/E ratio of 151.23, a price-to-earnings-growth ratio of 1.33 and a beta of 1.62. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $326.96.

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. The business had revenue of $291.95 million for 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 business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 7.11 earnings per share for the current year.

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.