Y Intercept Hong Kong Ltd Makes New $5.51 Million Investment in Onto Innovation Inc. $ONTO

Y Intercept Hong Kong Ltd bought a new position in Onto Innovation Inc. (NYSE:ONTO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,876 shares of the semiconductor company’s stock, valued at approximately $5,511,000. Y Intercept Hong Kong Ltd owned 0.05% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leonteq Securities AG lifted its position in Onto Innovation by 11,666.7% in the first quarter. Leonteq Securities AG now owns 1,412 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 1,400 shares during the period. Root Financial Partners LLC increased its position in Onto Innovation by 55.6% during the 1st quarter. Root Financial Partners LLC now owns 277 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 99 shares during the period. AMI Asset Management Corp acquired a new position in Onto Innovation during the 1st quarter worth approximately $521,000. Pictet Asset Management Holding SA raised its stake in shares of Onto Innovation by 114.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 16,336 shares of the semiconductor company’s stock worth $3,350,000 after buying an additional 8,736 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Onto Innovation by 129.8% during the 1st quarter. Sterling Capital Management LLC now owns 5,329 shares of the semiconductor company’s stock worth $1,093,000 after buying an additional 3,010 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 0.4%

Shares of Onto Innovation stock opened at $308.87 on Friday. The company has a 50-day moving average of $293.78 and a two-hundred day moving average of $236.75. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock has a market cap of $15.36 billion, a PE ratio of 144.33, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million for 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 quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 EPS. On average, sell-side analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of analyst reports. 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. Evercore reiterated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research report on Friday, April 17th. Zacks Research downgraded Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, Needham & Company LLC upped their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $339.60.

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.