Guardian Point Capital LP Sells 50,000 Shares of Onto Innovation Inc. $ONTO

Guardian Point Capital LP decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 31.2% during the 1st quarter, HoldingsChannel reports. The fund owned 110,000 shares of the semiconductor company’s stock after selling 50,000 shares during the quarter. Onto Innovation comprises approximately 9.3% of Guardian Point Capital LP’s investment portfolio, making the stock its 5th largest holding. Guardian Point Capital LP’s holdings in Onto Innovation were worth $22,558,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 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 valued at $1,584,000 after buying an additional 5,000 shares during the last quarter. CWM LLC grew its position in shares of Onto Innovation by 361.2% during the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after buying an additional 15,717 shares in the last quarter. M&T Bank Corp increased its stake in shares of Onto Innovation by 11,228.9% in the fourth quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock worth $53,848,000 after buying an additional 338,101 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in shares of Onto Innovation in the fourth quarter worth $1,583,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Onto Innovation by 148.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company’s stock valued at $45,052,000 after acquiring an additional 162,433 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 6.7%

ONTO stock opened at $271.83 on Friday. The firm has a market cap of $13.52 billion, a P/E ratio of 127.02, a P/E/G ratio of 1.11 and a beta of 1.55. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock’s 50 day simple moving average is $296.34 and its 200 day simple moving average is $251.19.

Onto Innovation (NYSE:ONTO) last announced 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 firm 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 firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. On average, research analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of research analyst reports. Needham & Company LLC increased 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. 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. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $339.60.

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.