Onto Innovation Inc. $ONTO Shares Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its position in Onto Innovation Inc. (NYSE:ONTO) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,111 shares of the semiconductor company’s stock after buying an additional 18,780 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Onto Innovation were worth $36,799,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in shares of Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares during the period. Danske Bank A S acquired a new stake in shares of Onto Innovation in the third quarter valued at $39,000. Torren Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $49,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onto Innovation in the third quarter valued at $47,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONTO. Jefferies Financial Group restated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. B. Riley Financial upped their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 13th. Oppenheimer set a $370.00 target price on Onto Innovation in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their target price on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $310.63.

Onto Innovation Stock Down 6.6%

Shares of Onto Innovation stock opened at $253.85 on Tuesday. The stock’s fifty day moving average is $243.81 and its 200-day moving average is $199.89. The firm has a market capitalization of $12.63 billion, a PE ratio of 118.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $316.00.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.Onto Innovation’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. Analysts expect that Onto Innovation Inc. will post 6.83 EPS for the current year.

About Onto Innovation

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.