William Blair Investment Management LLC Has $272.56 Million Stake in Onto Innovation Inc. $ONTO

William Blair Investment Management LLC trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,726,587 shares of the semiconductor company’s stock after selling 255,174 shares during the period. Onto Innovation accounts for 0.8% of William Blair Investment Management LLC’s holdings, making the stock its 24th largest position. William Blair Investment Management LLC’s holdings in Onto Innovation were worth $272,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Onto Innovation by 5.5% in the third quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock valued at $732,342,000 after buying an additional 294,393 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Onto Innovation by 1,217.0% in 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 buying an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Onto Innovation by 65.2% in the third quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock valued at $144,016,000 after buying an additional 440,035 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Onto Innovation by 0.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock valued at $112,319,000 after buying an additional 7,900 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in shares of Onto Innovation by 0.3% in the third quarter. Geneva Capital Management LLC now owns 1,084,447 shares of the semiconductor company’s stock valued at $140,132,000 after buying an additional 2,785 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of analyst reports. Cantor Fitzgerald lifted their price target on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. 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. Needham & Company LLC lifted their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Oppenheimer set a $370.00 price objective on shares of Onto Innovation in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $310.63.

Onto Innovation Price Performance

Shares of ONTO opened at $262.05 on Friday. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $316.00. The company has a market cap of $13.03 billion, a P/E ratio of 122.45, a P/E/G ratio of 1.28 and a beta of 1.70. The firm has a 50 day simple moving average of $249.36 and a two-hundred day simple moving average of $202.86.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same period in the previous year, the business earned $1.51 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Onto Innovation Inc. will post 6.83 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.