Franklin Resources Inc. Has $213.59 Million Stake in Onto Innovation Inc. $ONTO

Franklin Resources Inc. raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 21.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,353,001 shares of the semiconductor company’s stock after acquiring an additional 238,500 shares during the period. Franklin Resources Inc.’s holdings in Onto Innovation were worth $213,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. Los Angeles Capital Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at about $39,000. Danske Bank A S acquired a new position in Onto Innovation in the third quarter valued at about $39,000. Covestor Ltd grew its stake in Onto Innovation by 224.5% in the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 211 shares during the period. Finally, Torren Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at about $49,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

ONTO stock opened at $274.24 on Wednesday. The stock has a market capitalization of $13.64 billion, a P/E ratio of 128.15, a P/E/G ratio of 1.10 and a beta of 1.62. The business has a 50-day moving average of $264.75 and a 200-day moving average of $214.77. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $316.00.

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 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 company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the prior year, the firm earned $1.51 earnings per share. Onto Innovation’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts expect that Onto Innovation Inc. will post 7.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. Cantor Fitzgerald boosted their target price on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. B. Riley Financial boosted their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Evercore reissued an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research note on Friday, April 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $315.00.

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.