Onto Innovation Inc. $ONTO Stock Position Lowered by Andar Capital Management HK Ltd

Andar Capital Management HK Ltd lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,000 shares of the semiconductor company’s stock after selling 8,640 shares during the period. Onto Innovation comprises about 13.7% of Andar Capital Management HK Ltd’s holdings, making the stock its 2nd largest holding. Andar Capital Management HK Ltd’s holdings in Onto Innovation were worth $15,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in shares of Onto Innovation by 1,217.0% during the third 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 during the period. Norges Bank purchased a new position in shares of Onto Innovation in the fourth quarter worth $104,938,000. Jennison Associates LLC increased its stake in shares of Onto Innovation by 1,293.5% in the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after buying an additional 631,965 shares during the period. AQR Capital Management LLC raised its holdings in Onto Innovation by 315.8% during the 4th quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock valued at $97,187,000 after buying an additional 467,587 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Onto Innovation by 88.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after buying an additional 451,084 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 0.5%

NYSE:ONTO opened at $278.45 on Tuesday. The company has a 50-day moving average price of $295.27 and a 200-day moving average price of $248.20. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 130.12, a P/E/G ratio of 1.14 and a beta of 1.55. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data 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 return on equity of 11.68% and a net margin of 10.32%.The business had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the previous year, the firm posted $1.51 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the subject of several recent analyst reports. Evercore reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Cantor Fitzgerald raised their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $339.60.

Onto Innovation 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.