Sequoia Financial Advisors LLC Increases Stock Position in Onto Innovation Inc. $ONTO

Sequoia Financial Advisors LLC lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,848 shares of the semiconductor company’s stock after purchasing an additional 2,150 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $3,133,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Onto Innovation by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock valued at $732,342,000 after purchasing an additional 294,393 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Onto Innovation by 80.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after buying an additional 882,901 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 1,217.0% during the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after acquiring an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. increased its stake in Onto Innovation by 65.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock valued at $144,016,000 after purchasing an additional 440,035 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its holdings in Onto Innovation by 0.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock worth $112,319,000 after acquiring an additional 7,900 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 4.0%

Shares of ONTO opened at $285.26 on Friday. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $316.00. The company has a market cap of $14.19 billion, a P/E ratio of 133.30, a P/E/G ratio of 1.39 and a beta of 1.70. The company’s fifty day simple moving average is $234.97 and its 200-day simple moving average is $192.82.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research note on Wednesday. Cantor Fitzgerald boosted their price target on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Buy” and a consensus target price of $310.63.

Onto Innovation Company 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.