Onto Innovation Inc. $ONTO is Paradigm Capital Management Inc. NY’s 4th Largest Position

Paradigm Capital Management Inc. NY reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,102,438 shares of the semiconductor company’s stock after selling 23,400 shares during the quarter. Onto Innovation comprises about 8.6% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 4th biggest holding. Paradigm Capital Management Inc. NY’s holdings in Onto Innovation were worth $226,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC boosted its holdings in Onto Innovation by 147.8% during the first 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. Transamerica Financial Advisors LLC increased its holdings in Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. Root Financial Partners LLC increased its holdings in Onto Innovation by 71.2% in 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 in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth about $39,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ONTO shares. Morgan Stanley initiated coverage on shares of Onto Innovation in a research note on Sunday, June 14th. They set an “overweight” rating and a $371.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price target for the company. Cantor Fitzgerald increased their price target on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, B. Riley Financial raised their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Onto Innovation has an average rating of “Buy” and a consensus price target of $339.60.

Onto Innovation Stock Performance

NYSE:ONTO opened at $271.83 on Friday. The company has a fifty day moving average of $296.34 and a two-hundred day moving average of $251.19. The stock 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 Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data 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. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period last year, the firm posted $1.51 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Research analysts forecast 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.