Rockefeller Capital Management L.P. Has $17.08 Million Position in Onto Innovation Inc. $ONTO

Rockefeller Capital Management L.P. lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,202 shares of the semiconductor company’s stock after selling 34,759 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Onto Innovation were worth $17,081,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Transamerica Financial Advisors LLC grew its holdings in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Onto Innovation by 109.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Onto Innovation during the fourth quarter worth $39,000. Finally, Danske Bank A S bought a new stake in shares of Onto Innovation in the third quarter worth $39,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ONTO shares. Zacks Research downgraded Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. B. Riley Financial upped their price target on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $328.60.

Onto Innovation Trading Down 9.3%

Shares of NYSE ONTO opened at $315.46 on Wednesday. The firm has a market capitalization of $15.69 billion, a P/E ratio of 147.41, a P/E/G ratio of 1.42 and a beta of 1.62. The firm’s 50-day moving average price is $284.31 and its 200-day moving average price is $227.43. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $349.38.

Onto Innovation (NYSE:ONTO) last issued its earnings results 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 return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same period last year, the business posted $1.51 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 7.14 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.