SG Capital Management LLC Makes New Investment in Onto Innovation Inc. $ONTO

SG Capital Management LLC bought a new stake in Onto Innovation Inc. (NYSE:ONTO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 270,846 shares of the semiconductor company’s stock, valued at approximately $34,999,000. Onto Innovation makes up about 3.1% of SG Capital Management LLC’s portfolio, making the stock its 10th largest holding.

A number of other large investors have also modified their holdings of the business. Westside Investment Management Inc. boosted its stake in shares of Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Blue Trust Inc. lifted its holdings in Onto Innovation by 2,061.5% in the third quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 268 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of Onto Innovation during the 3rd quarter worth $37,000. Farther Finance Advisors LLC increased its holdings in shares of Onto Innovation by 76.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 139 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onto Innovation in the third quarter valued at about $47,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ONTO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a report on Thursday, January 22nd. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Stifel Nicolaus increased their target price on Onto Innovation from $180.00 to $215.00 and gave the company a “hold” rating in a report on Wednesday. Needham & Company LLC raised their price target on Onto Innovation from $200.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group boosted their price target on Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.25.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $221.08 on Thursday. The firm has a market cap of $10.84 billion, a P/E ratio of 62.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $229.87. The firm’s 50 day moving average price is $189.80 and its 200 day moving average price is $148.10.

About Onto Innovation

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.