Sei Investments Co. Buys 28,941 Shares of Onto Innovation Inc. $ONTO

Sei Investments Co. increased its stake in Onto Innovation Inc. (NYSE:ONTO) by 67.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,117 shares of the semiconductor company’s stock after buying an additional 28,941 shares during the period. Sei Investments Co. owned 0.14% of Onto Innovation worth $14,790,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CWM LLC grew its stake in Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after acquiring an additional 15,717 shares during the period. M&T Bank Corp boosted its holdings in shares of Onto Innovation by 11,228.9% during the fourth quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock worth $53,848,000 after purchasing an additional 338,101 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new stake in shares of Onto Innovation during the fourth quarter worth $1,583,000. Allspring Global Investments Holdings LLC grew its position in shares of Onto Innovation by 148.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company’s stock valued at $45,052,000 after purchasing an additional 162,433 shares during the period. Finally, Retirement Systems of Alabama grew its position in shares of Onto Innovation by 27.9% in the fourth quarter. Retirement Systems of Alabama now owns 75,808 shares of the semiconductor company’s stock valued at $11,967,000 after purchasing an additional 16,559 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ONTO shares. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Oppenheimer raised their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. B. Riley Financial lifted their price target on Onto Innovation from $275.00 to $310.00 and gave the company 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 research note on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation has a consensus rating of “Buy” and a consensus price target of $339.60.

Onto Innovation Trading Up 14.8%

Shares of ONTO opened at $250.62 on Friday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The firm has a market capitalization of $12.47 billion, a P/E ratio of 117.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The stock’s fifty day simple moving average is $295.26 and its 200 day simple moving average is $253.33.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The firm 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 earnings per share. Sell-side analysts predict 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.