Havemeyer Place LP Invests $720,000 in Onto Innovation Inc. $ONTO

Havemeyer Place LP purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,561 shares of the semiconductor company’s stock, valued at approximately $720,000.

A number of other large investors have also recently made changes to their positions in ONTO. Root Financial Partners LLC grew its position in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares during the period. Danske Bank A S bought a new stake in Onto Innovation during the third quarter valued at approximately $39,000. Covestor Ltd grew its position in Onto Innovation by 224.5% during the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 211 shares during the period. Torren Management LLC bought a new stake in Onto Innovation during the fourth quarter valued at approximately $49,000. Finally, Parallel Advisors LLC grew its position in Onto Innovation by 20.6% during the fourth quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 58 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Price Performance

ONTO opened at $268.88 on Tuesday. The firm has a market cap of $13.37 billion, a P/E ratio of 125.65, a PEG ratio of 1.20 and a beta of 1.63. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $316.00. The company has a 50 day simple moving average of $263.35 and a two-hundred day simple moving average of $213.76.

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, topping analysts’ consensus estimates of $1.38 by $0.04. The business 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 company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. Equities analysts anticipate that Onto Innovation Inc. will post 7.05 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ONTO shares. B. Riley Financial boosted 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. Needham & Company LLC boosted their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Onto Innovation presently has a consensus rating of “Buy” and an average price target of $315.00.

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.