Inceptionr LLC Makes New $662,000 Investment in Onto Innovation Inc. $ONTO

Inceptionr LLC acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 3,228 shares of the semiconductor company’s stock, valued at approximately $662,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC raised its stake in shares of Onto Innovation by 312.5% in 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. grew its holdings 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 buying an additional 208,907 shares in 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 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after acquiring an additional 13,175 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Onto Innovation by 6.3% during the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Onto Innovation by 182.4% during the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 4,283 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. B. Riley Financial boosted their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Buy” and an average price target of $339.60.

Onto Innovation Price Performance

Shares of ONTO opened at $271.83 on Friday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $386.46. The stock’s fifty day moving average price is $296.34 and its two-hundred day moving average price is $251.19. The firm has a market cap of $13.52 billion, a PE ratio of 127.02, a PEG ratio of 1.11 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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. 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 quarter in the prior year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share 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.