Onto Innovation Inc. $ONTO Stock Position Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in Onto Innovation Inc. (NYSE:ONTO) by 114.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,336 shares of the semiconductor company’s stock after purchasing an additional 8,736 shares during the period. Pictet Asset Management Holding SA’s holdings in Onto Innovation were worth $3,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONTO. Root Financial Partners LLC lifted its holdings in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. CIBC Private Wealth Group LLC raised its position 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 valued at $39,000 after buying an additional 128 shares during the period. Los Angeles Capital Management LLC acquired a new position in Onto Innovation during the fourth quarter valued at $39,000. Finally, Danske Bank A S purchased a new stake in Onto Innovation in the 3rd quarter worth about $39,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ONTO shares. Zacks Research cut Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. B. Riley Financial increased their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Cantor Fitzgerald lifted their target price on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.60.

Onto Innovation Price Performance

Onto Innovation stock opened at $308.87 on Friday. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46. The company’s fifty day moving average price is $293.78 and its two-hundred day moving average price is $236.75. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 144.33, a PEG ratio of 1.26 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 EPS. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

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.