General American Investors Co. Inc. Makes New Investment in Onto Innovation Inc. $ONTO

General American Investors Co. Inc. purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 80,000 shares of the semiconductor company’s stock, valued at approximately $12,629,000. General American Investors Co. Inc. owned about 0.16% of Onto Innovation as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a report on Monday, June 1st. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Needham & Company LLC lifted their price objective on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial lifted their price objective on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $315.00.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $323.62 on Friday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $326.96. The company has a market cap of $16.10 billion, a PE ratio of 151.23, a P/E/G ratio of 1.33 and a beta of 1.62. The stock’s 50-day moving average is $270.56 and its 200 day moving average is $217.77.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the business earned $1.51 EPS. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. Analysts expect that Onto Innovation Inc. will post 7.11 EPS for the current fiscal year.

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.