K.J. Harrison & Partners Inc Makes New $820,000 Investment in Onto Innovation Inc. $ONTO

K.J. Harrison & Partners Inc purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the semiconductor company’s stock, valued at approximately $820,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in 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 in the last quarter. Norges Bank purchased a new position in shares of Onto Innovation during the 4th quarter worth $104,938,000. Jennison Associates LLC boosted its position 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 acquiring an additional 631,965 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Onto Innovation by 315.8% in the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock valued at $97,187,000 after purchasing an additional 467,587 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Onto Innovation by 88.5% in 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 period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ONTO shares. Oppenheimer increased their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective on the stock. B. Riley Financial increased their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, Evercore reissued an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.60.

Onto Innovation Stock Up 0.4%

Onto Innovation stock opened at $308.87 on Friday. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46. The firm has a market cap of $15.36 billion, a PE ratio of 144.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The company’s 50 day moving average is $293.78 and its two-hundred day moving average is $236.75.

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, 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 business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the prior year, the company earned $1.51 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal 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.