Onto Innovation Inc. $ONTO Stake Reduced by UBS Group AG

UBS Group AG reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 59.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 256,731 shares of the semiconductor company’s stock after selling 376,201 shares during the period. UBS Group AG’s holdings in Onto Innovation were worth $40,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Wellington Management Group LLP boosted its position in Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after acquiring an additional 1,292,772 shares during the period. William Blair Investment Management LLC boosted its position in Onto Innovation by 80.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after acquiring an additional 882,901 shares during the period. Franklin Resources Inc. boosted its position in Onto Innovation by 65.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock worth $144,016,000 after acquiring an additional 440,035 shares during the period. BNP Paribas Financial Markets boosted its position in Onto Innovation by 342.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 566,116 shares of the semiconductor company’s stock worth $57,138,000 after acquiring an additional 438,217 shares during the period. Finally, M&T Bank Corp boosted its position in Onto Innovation by 11,228.9% during the 4th quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock worth $53,848,000 after acquiring an additional 338,101 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Down 6.7%

Shares of Onto Innovation stock opened at $274.27 on Friday. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 128.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.70. The business has a fifty day simple moving average of $234.97 and a 200-day simple moving average of $192.82. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $316.00.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 11.68% and a net margin of 10.32%.The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Analysts anticipate that Onto Innovation Inc. will post 6.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ONTO shares. Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a research report on Wednesday. Needham & Company LLC boosted their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald boosted their price target on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Evercore reiterated an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Finally, B. Riley Financial boosted their price target on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $310.63.

About Onto Innovation

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.