Assenagon Asset Management S.A. Increases Position in Onto Innovation Inc. $ONTO

Assenagon Asset Management S.A. boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,321 shares of the semiconductor company’s stock after purchasing an additional 23,181 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Onto Innovation were worth $46,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC lifted its position in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Onto Innovation during the fourth quarter valued at approximately $39,000. CIBC Private Wealth Group LLC boosted its stake in Onto Innovation by 109.4% in the fourth 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, Danske Bank A S acquired a new stake in Onto Innovation in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ONTO shares. Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. Morgan Stanley began coverage on Onto Innovation in a research note on Sunday, June 14th. They set an “overweight” rating and a $371.00 price target on the stock. Cantor Fitzgerald upped their price objective on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Finally, Zacks Research cut shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $328.60.

Onto Innovation Stock Up 6.7%

Onto Innovation stock opened at $343.82 on Friday. The stock has a 50-day moving average price of $287.30 and a 200 day moving average price of $229.87. The company has a market capitalization of $17.10 billion, a price-to-earnings ratio of 160.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.62. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $353.18.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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. 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 analyst estimates of $292.00 million. During the same period last year, the firm posted $1.51 EPS. Onto Innovation’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

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.