Jennison Associates LLC Has $115.72 Million Stock Holdings in Onto Innovation Inc. $ONTO

Jennison Associates LLC decreased its stake in Onto Innovation Inc. (NYSE:ONTO) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 564,305 shares of the semiconductor company’s stock after selling 116,517 shares during the quarter. Jennison Associates LLC owned approximately 1.13% of Onto Innovation worth $115,722,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC grew its holdings in shares of Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 99 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Onto Innovation by 109.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Onto Innovation during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ONTO. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Needham & Company LLC lifted their price target on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Evercore restated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Finally, Cantor Fitzgerald raised their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $339.60.

Onto Innovation Trading Down 0.9%

Shares of Onto Innovation stock opened at $279.05 on Friday. The firm has a fifty day simple moving average of $295.47 and a 200-day simple moving average of $246.75. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 130.40, a PEG ratio of 1.14 and a beta of 1.55. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $386.46.

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