Kennedy Capital Management LLC Increases Stock Holdings in Onto Innovation Inc. $ONTO

Kennedy Capital Management LLC lifted its position in Onto Innovation Inc. (NYSE:ONTO) by 237.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,005 shares of the semiconductor company’s stock after buying an additional 129,521 shares during the quarter. Onto Innovation makes up approximately 0.6% of Kennedy Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Kennedy Capital Management LLC owned approximately 0.38% of Onto Innovation worth $29,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Onto Innovation by 5.5% in the third quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock worth $732,342,000 after buying an additional 294,393 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after buying an additional 882,901 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after buying an additional 1,292,772 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company’s stock worth $213,585,000 after buying an additional 238,500 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after buying an additional 352,316 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of ONTO opened at $323.62 on Friday. The firm’s 50 day simple moving average is $270.56 and its 200 day simple moving average is $217.77. The company has a market capitalization of $16.10 billion, a P/E ratio of 151.23, a P/E/G ratio of 1.33 and a beta of 1.62. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $326.96.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period last year, the firm posted $1.51 earnings per share. Onto Innovation’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Onto Innovation Inc. will post 7.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a report on Monday, June 1st. Evercore reissued an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. B. Riley Financial increased their price target 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. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Buy” and a consensus price target of $315.00.

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.