Thrivent Financial for Lutherans Raises Stock Position in Onto Innovation Inc. $ONTO

Thrivent Financial for Lutherans raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 88.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 960,911 shares of the semiconductor company’s stock after buying an additional 451,084 shares during the period. Thrivent Financial for Lutherans’ holdings in Onto Innovation were worth $151,689,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ONTO. NewEdge Advisors LLC increased its holdings in Onto Innovation by 312.5% in the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 3,122 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after buying an additional 208,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after buying an additional 13,175 shares in the last quarter. Cetera Investment Advisers increased its holdings in Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Onto Innovation by 182.4% in the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after buying an additional 4,283 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $277.29 on Friday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00. The firm’s 50 day moving average price is $241.42 and its 200 day moving average price is $198.05. The firm has a market cap of $13.79 billion, a P/E ratio of 129.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70.

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. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same quarter last year, the business earned $1.51 earnings per share. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 6.83 EPS 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.