Onto Innovation Inc. $ONTO Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 483,082 shares of the semiconductor company’s stock after buying an additional 8,552 shares during the period. Westfield Capital Management Co. LP’s holdings in Onto Innovation were worth $76,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Onto Innovation by 31.2% in the 3rd quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company’s stock valued at $18,806,000 after buying an additional 34,567 shares during the period. Eagle Rock Investment Company LLC increased its stake in Onto Innovation by 99.3% in 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 period. CWM LLC increased its stake in Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after buying an additional 15,717 shares during the period. AI Squared Management Ltd acquired a new position in Onto Innovation in the 3rd quarter valued at $7,792,000. Finally, Brevan Howard Capital Management LP acquired a new position in Onto Innovation in the 3rd quarter valued at $3,436,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cantor Fitzgerald boosted their price objective on shares of 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 price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Needham & Company LLC boosted 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. Finally, Evercore reissued an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Onto Innovation presently has an average rating of “Buy” and an average price target of $315.00.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $274.94 on Friday. The firm has a market capitalization of $13.68 billion, a P/E ratio of 128.47, a PEG ratio of 1.32 and a beta of 1.62. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $316.00. The company’s fifty day moving average is $261.43 and its two-hundred day moving average is $211.85.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate 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 net margin of 10.32% and a return on equity of 11.68%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. On average, sell-side analysts forecast that Onto Innovation Inc. will post 7.05 earnings per share for the current fiscal 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.