Hsbc Holdings PLC Decreases Stock Holdings in Onto Innovation Inc. $ONTO

Hsbc Holdings PLC reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 67.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,464 shares of the semiconductor company’s stock after selling 24,300 shares during the quarter. Hsbc Holdings PLC’s holdings in Onto Innovation were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Eagle Rock Investment Company LLC boosted its stake in shares of Onto Innovation by 99.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after acquiring an additional 5,000 shares in the last quarter. CWM LLC increased its stake in Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after purchasing an additional 15,717 shares in the last quarter. AI Squared Management Ltd purchased a new position in Onto Innovation in the 3rd quarter valued at approximately $7,792,000. Fisher Asset Management LLC raised its holdings in Onto Innovation by 22.1% during the third quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock worth $84,769,000 after purchasing an additional 118,642 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Onto Innovation during the third quarter worth $3,436,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONTO. Morgan Stanley initiated coverage on Onto Innovation in a report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 target price on the stock. 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. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research report on Wednesday, May 6th. Finally, Zacks Research cut shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $339.60.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $350.73 on Tuesday. The business’s fifty day moving average price is $290.29 and its two-hundred day moving average price is $232.35. The stock has a market cap of $17.45 billion, a PE ratio of 163.89, a price-to-earnings-growth ratio of 1.32 and a beta of 1.63. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $353.18.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the previous year, the firm posted $1.51 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Onto Innovation Inc. will post 7.14 earnings per share 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.