Granahan Investment Management LLC Increases Holdings in Onto Innovation Inc. $ONTO

Granahan Investment Management LLC increased its position in Onto Innovation Inc. (NYSE:ONTO) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,694 shares of the semiconductor company’s stock after purchasing an additional 2,052 shares during the quarter. Onto Innovation makes up about 2.0% of Granahan Investment Management LLC’s portfolio, making the stock its 11th biggest position. Granahan Investment Management LLC’s holdings in Onto Innovation were worth $40,746,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 56 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Onto Innovation by 4.9% in the 1st quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock worth $281,000 after buying an additional 64 shares during the period. Root Financial Partners LLC grew its position in shares of Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Onto Innovation by 8.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock worth $186,000 after buying an additional 92 shares in the last quarter. Finally, Millstone Evans Group LLC grew its position in shares of Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after buying an additional 99 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONTO has been the subject of several recent research reports. Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. B. Riley Financial raised their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Oppenheimer boosted their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Finally, Cantor Fitzgerald boosted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Two investment 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, the stock currently has an average rating of “Buy” and an average price target of $339.60.

Onto Innovation Trading Down 6.7%

Shares of NYSE:ONTO opened at $271.83 on Friday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The business’s fifty day simple moving average is $296.34 and its 200-day simple moving average is $251.19. The company has a market capitalization of $13.52 billion, a PE ratio of 127.02, a P/E/G ratio of 1.19 and a beta of 1.55.

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