Mitsubishi UFJ Asset Management UK Ltd. Purchases Shares of 9,500 Onto Innovation Inc. $ONTO

Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,500 shares of the semiconductor company’s stock, valued at approximately $1,500,000.

A number of other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in Onto Innovation by 224.5% during the 4th quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 211 shares during the last quarter. Tredje AP fonden purchased a new position in Onto Innovation during the 4th quarter worth $14,207,000. Larson Financial Group LLC boosted its holdings in Onto Innovation by 9.9% during the 4th quarter. Larson Financial Group LLC now owns 2,721 shares of the semiconductor company’s stock worth $430,000 after acquiring an additional 245 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Onto Innovation by 8.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 233,111 shares of the semiconductor company’s stock worth $36,799,000 after acquiring an additional 18,780 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Onto Innovation by 24.9% during the 4th quarter. ProShare Advisors LLC now owns 9,939 shares of the semiconductor company’s stock worth $1,569,000 after acquiring an additional 1,984 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating and set 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 shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer set a $370.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, B. Riley Financial lifted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $310.63.

Onto Innovation Stock Performance

ONTO opened at $247.33 on Wednesday. The firm has a market cap of $12.30 billion, a P/E ratio of 115.58, a PEG ratio of 1.24 and a beta of 1.70. The firm has a 50-day moving average of $245.17 and a 200 day moving average of $200.66. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $316.00.

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, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 6.83 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.