135,369 Shares in Onto Innovation Inc. $ONTO Acquired by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 135,369 shares of the semiconductor company’s stock, valued at approximately $27,760,000. Stephens Investment Management Group LLC owned about 0.27% of Onto Innovation at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position 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 valued at $180,778,000 after acquiring an additional 1,292,772 shares during the period. Norges Bank purchased a new position in Onto Innovation during the fourth quarter valued at $104,938,000. Jennison Associates LLC grew its holdings 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 during the period. AQR Capital Management LLC grew its holdings 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 during the period. Finally, Thrivent Financial for Lutherans increased its position in Onto Innovation by 88.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock worth $151,689,000 after buying an additional 451,084 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ONTO shares. B. Riley Financial lifted their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report 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 note on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.60.

Onto Innovation Trading Up 0.4%

NYSE ONTO opened at $308.87 on Monday. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46. The stock has a market cap of $15.36 billion, a PE ratio of 144.33, a P/E/G ratio of 1.26 and a beta of 1.55. The stock’s 50 day moving average is $293.78 and its 200 day moving average is $237.32.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating 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 business 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. The company’s revenue was up 9.5% on a year-over-year basis. On average, analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal 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.