Dockside LLC Takes Position in Onto Innovation Inc. $ONTO

Dockside LLC purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 12,933 shares of the semiconductor company’s stock, valued at approximately $2,042,000.

Other hedge funds have also modified their holdings of the company. Eagle Rock Investment Company LLC grew its stake 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 valued at $1,584,000 after purchasing an additional 5,000 shares during the last quarter. CWM LLC boosted its stake in Onto Innovation by 361.2% in the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 15,717 shares during the last quarter. AI Squared Management Ltd bought a new position in Onto Innovation in the third quarter valued at approximately $7,792,000. Fisher Asset Management LLC boosted its stake in Onto Innovation by 22.1% in the third quarter. Fisher Asset Management LLC now owns 656,002 shares of the semiconductor company’s stock valued at $84,769,000 after acquiring an additional 118,642 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Onto Innovation in the third quarter valued at approximately $3,436,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $323.62 on Friday. The firm’s 50 day moving average price is $270.56 and its two-hundred day moving average price is $217.77. The stock has a market cap of $16.10 billion, a PE ratio of 151.23, a PEG ratio of 1.33 and a beta of 1.62. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $326.96.

Onto Innovation (NYSE:ONTO) last posted its earnings results 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 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 for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $1.51 earnings per share. As a group, sell-side analysts predict that Onto Innovation Inc. will post 7.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent research reports. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday, May 6th. Cantor Fitzgerald raised 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. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $315.00.

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.