ING Groep NV Has $3.46 Million Stake in Onto Innovation Inc. $ONTO

ING Groep NV trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 77.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,900 shares of the semiconductor company’s stock after selling 75,000 shares during the quarter. ING Groep NV’s holdings in Onto Innovation were worth $3,457,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ONTO. NewEdge Advisors LLC increased its position in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after buying an additional 3,122 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Onto Innovation by 76.4% during the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after buying an additional 208,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Onto Innovation by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after buying an additional 13,175 shares during the last quarter. Cetera Investment Advisers increased its position in Onto Innovation by 6.3% during the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock worth $405,000 after buying an additional 238 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Onto Innovation by 182.4% during the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock worth $666,000 after buying an additional 4,283 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $268.88 on Tuesday. The company has a market cap of $13.37 billion, a P/E ratio of 125.65, a P/E/G ratio of 1.20 and a beta of 1.63. The stock’s 50-day moving average is $263.35 and its 200-day moving average is $213.76. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $316.00.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million for 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% compared to the same quarter last year. During the same period last year, the business posted $1.51 earnings per share. As a group, equities analysts predict that Onto Innovation Inc. will post 7.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a research report on Monday, June 1st. Cantor Fitzgerald raised their price target on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday. They issued a “buy” rating and a $350.00 price target on the stock. Needham & Company LLC raised their price target on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Buy” and a consensus target price 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.