Systematic Financial Management LP Sells 18,453 Shares of Onto Innovation Inc. $ONTO

Systematic Financial Management LP lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 9.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,345 shares of the semiconductor company’s stock after selling 18,453 shares during the period. Systematic Financial Management LP owned approximately 0.36% of Onto Innovation worth $36,574,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eagle Rock Investment Company LLC raised its position in Onto Innovation by 99.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after purchasing an additional 5,000 shares during the last quarter. CWM LLC grew its position in shares of Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after buying an additional 15,717 shares during the last quarter. M&T Bank Corp grew its position in shares of Onto Innovation by 11,228.9% in the 4th quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock worth $53,848,000 after buying an additional 338,101 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new position in shares of Onto Innovation during the fourth quarter valued at approximately $1,583,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Onto Innovation by 148.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company’s stock valued at $45,052,000 after buying an additional 162,433 shares during the period. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 1.3%

ONTO opened at $291.31 on Friday. The stock has a market cap of $14.49 billion, a PE ratio of 136.13, a PEG ratio of 1.21 and a beta of 1.55. The business has a 50 day moving average of $296.34 and a 200-day moving average of $251.05. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results 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 company 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 firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Equities analysts anticipate that Onto Innovation Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on ONTO. Needham & Company LLC raised their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley initiated coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They set an “overweight” rating and a $371.00 price objective on the stock. Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Oppenheimer raised their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Buy” and an average price target of $339.60.

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.