Sterling Capital Management LLC Purchases 3,010 Shares of Onto Innovation Inc. $ONTO

Sterling Capital Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 129.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,329 shares of the semiconductor company’s stock after buying an additional 3,010 shares during the quarter. Sterling Capital Management LLC’s holdings in Onto Innovation were worth $1,093,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC grew its stake 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 acquiring an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings 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 worth $39,000 after purchasing an additional 128 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Onto Innovation during the fourth quarter worth $39,000. Finally, Danske Bank A S bought a new position in Onto Innovation in the third quarter valued at $39,000. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ONTO. Oppenheimer increased their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft started coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price on the stock. Evercore reiterated an “outperform” rating and set a $315.00 target price on shares of Onto Innovation in a report on Friday, April 17th. Zacks Research cut Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.60.

Onto Innovation Price Performance

Shares of ONTO opened at $378.48 on Wednesday. The company has a market cap of $18.83 billion, a PE ratio of 176.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.62. The firm has a 50-day moving average of $292.05 and a 200-day moving average of $233.83. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its 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. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the prior year, the firm earned $1.51 EPS. Onto Innovation’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

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.