Pacer Advisors Inc. Buys 325,179 Shares of Onto Innovation Inc. $ONTO

Pacer Advisors Inc. raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 3,305.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,018 shares of the semiconductor company’s stock after buying an additional 325,179 shares during the quarter. Pacer Advisors Inc. owned about 0.68% of Onto Innovation worth $52,886,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ONTO. Root Financial Partners LLC increased its holdings in shares of 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 acquiring an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in Onto Innovation by 188.5% in the 4th 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 stake in Onto Innovation by 109.4% in the 4th 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 in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Onto Innovation during the 4th quarter valued at about $39,000. Finally, Danske Bank A S bought a new stake in Onto Innovation during the 3rd quarter valued at about $39,000. 98.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ONTO. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Morgan Stanley started coverage on shares of Onto Innovation in a report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective for the company. B. Riley Financial upped their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.60.

Onto Innovation Stock Down 0.1%

ONTO opened at $333.41 on Friday. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 155.80, a PEG ratio of 1.36 and a beta of 1.62. The firm has a 50 day moving average price of $281.10 and a 200-day moving average price of $224.40. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $348.76.

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, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $1.51 earnings per share. As a group, 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.