Royce & Associates LP Has $57.74 Million Stock Position in Onto Innovation Inc. $ONTO

Royce & Associates LP raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,735 shares of the semiconductor company’s stock after buying an additional 58,259 shares during the period. Onto Innovation accounts for 0.6% of Royce & Associates LP’s holdings, making the stock its 27th largest holding. Royce & Associates LP owned approximately 0.75% of Onto Innovation worth $57,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Onto Innovation by 31.2% in the third 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 in the last quarter. New York State Common Retirement Fund boosted its position in Onto Innovation by 64.9% in the third quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock valued at $15,149,000 after buying an additional 46,118 shares in the last quarter. EFG Asset Management North America Corp. acquired a new stake in Onto Innovation in the third quarter valued at approximately $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Onto Innovation by 36.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock valued at $6,613,000 after buying an additional 13,714 shares in the last quarter. Finally, Eagle Rock Investment Company LLC lifted its holdings in shares of Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. B. Riley Financial boosted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Finally, Needham & Company LLC boosted their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $310.63.

Onto Innovation Stock Down 0.1%

Shares of Onto Innovation stock opened at $262.05 on Tuesday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $316.00. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 122.45, a P/E/G ratio of 1.28 and a beta of 1.70. The company’s fifty day moving average is $250.91 and its 200 day moving average is $204.30.

Onto Innovation (NYSE:ONTO) last issued 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. The company had revenue of $291.95 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal 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.