Harvest Fund Management Co. Ltd Purchases 4,552 Shares of Onto Innovation Inc. $ONTO

Harvest Fund Management Co. Ltd raised its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 8,588.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,605 shares of the semiconductor company’s stock after purchasing an additional 4,552 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $727,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ONTO. Wellington Management Group LLP grew its stake 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 purchasing an additional 1,292,772 shares during the period. William Blair Investment Management LLC grew its stake in shares of Onto Innovation by 80.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock valued at $256,083,000 after purchasing an additional 882,901 shares during the period. Norges Bank bought a new stake in shares of Onto Innovation during the 4th quarter valued at about $104,938,000. Jennison Associates LLC grew its stake in shares of Onto Innovation by 1,293.5% during the 4th 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. Finally, Thrivent Financial for Lutherans grew its stake in shares of 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 purchasing an additional 451,084 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ONTO shares. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Cantor Fitzgerald boosted their price objective on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a research note on Monday. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC boosted their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $315.00.

Onto Innovation Trading Down 8.0%

NYSE ONTO opened at $252.75 on Friday. The stock’s 50 day moving average is $262.06 and its 200 day moving average is $212.14. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00. The stock has a market cap of $12.57 billion, a PE ratio of 118.11, a P/E/G ratio of 1.30 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. On average, analysts forecast that Onto Innovation Inc. will post 7.05 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.