90,000 Shares in Onto Innovation Inc. $ONTO Bought by Tredje AP fonden

Tredje AP fonden bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 90,000 shares of the semiconductor company’s stock, valued at approximately $14,207,000. Tredje AP fonden owned approximately 0.18% of Onto Innovation at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. grew its stake in shares of Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Danske Bank A S acquired a new position in Onto Innovation in the third quarter valued at $39,000. Torren Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at $49,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onto Innovation in the third quarter valued at $47,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Onto Innovation in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ONTO shares. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Oppenheimer set a $370.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Evercore restated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Price Performance

NYSE ONTO opened at $247.33 on Wednesday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00. The company has a market capitalization of $12.30 billion, a PE ratio of 115.58, a P/E/G ratio of 1.24 and a beta of 1.70. The company has a fifty day moving average of $245.17 and a two-hundred day moving average of $200.66.

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, 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 business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 6.83 earnings per share for the current year.

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.