AMF Tjanstepension AB Sells 4,497 Shares of Onto Innovation Inc. $ONTO

AMF Tjanstepension AB trimmed its stake in Onto Innovation Inc. (NYSE:ONTO) by 18.2% in the first quarter, HoldingsChannel reports. The firm owned 20,241 shares of the semiconductor company’s stock after selling 4,497 shares during the period. AMF Tjanstepension AB’s holdings in Onto Innovation were worth $4,151,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in 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 purchasing an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. raised its position in Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock worth $213,585,000 after acquiring an additional 238,500 shares during the period. Geode Capital Management LLC lifted its position in shares of Onto Innovation by 45.4% during the 4th quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock valued at $178,024,000 after buying an additional 352,316 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in Onto Innovation by 1.2% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company’s stock worth $177,725,000 after buying an additional 12,999 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in 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 period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO opened at $321.53 on Monday. The company’s fifty day moving average is $294.75 and its 200 day moving average is $242.56. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46. The stock has a market capitalization of $15.99 billion, a PE ratio of 150.25, a P/E/G ratio of 1.31 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share 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 business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several recent analyst reports. Needham & Company LLC boosted their price objective on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer raised their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. 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. Evercore restated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Finally, Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.60.

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.