Rockefeller Capital Management L.P. Has $17.08 Million Stock Position in Onto Innovation Inc. $ONTO

Rockefeller Capital Management L.P. lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,202 shares of the semiconductor company’s stock after selling 34,759 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.22% of Onto Innovation worth $17,081,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ONTO. Wellington Management Group LLP increased its holdings in Onto Innovation by 1,217.0% in the 3rd 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. William Blair Investment Management LLC increased its stake in Onto Innovation by 80.3% in the third 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 last quarter. Norges Bank bought a new position in Onto Innovation in the fourth quarter valued at approximately $104,938,000. Jennison Associates LLC raised its position in Onto Innovation by 1,293.5% during the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock valued at $107,475,000 after purchasing an additional 631,965 shares in the last quarter. Finally, AQR Capital Management LLC raised 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 valued at $97,187,000 after purchasing an additional 467,587 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $315.46 on Wednesday. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $349.38. The firm has a market capitalization of $15.69 billion, a P/E ratio of 147.41, a P/E/G ratio of 1.42 and a beta of 1.62. The company’s 50 day moving average price is $284.31 and its two-hundred day moving average price is $227.43.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping 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 company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same period in the prior year, the business earned $1.51 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONTO. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. Oppenheimer lifted their price target on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Finally, Zacks Research lowered Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.60.

About Onto Innovation

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.