Onto Innovation Inc. $ONTO Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 450.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,676 shares of the semiconductor company’s stock after purchasing an additional 8,735 shares during the quarter. Corient Private Wealth LLC’s holdings in Onto Innovation were worth $1,689,000 as of its most recent SEC filing.

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

Onto Innovation Stock Up 7.7%

Onto Innovation stock opened at $378.48 on Wednesday. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46. The firm has a market cap of $18.83 billion, a PE ratio of 176.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.62. The company’s 50 day moving average is $292.05 and its two-hundred day moving average is $233.83.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. On average, equities research analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ONTO shares. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price on the stock. B. Riley Financial upped their price target on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Oppenheimer raised their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $339.60.

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.