Onto Innovation Inc. $ONTO Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 233,111 shares of the semiconductor company’s stock after acquiring an additional 18,780 shares during the period. TimesSquare Capital Management LLC owned approximately 0.48% of Onto Innovation worth $36,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. increased its holdings in Onto Innovation by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Danske Bank A S bought a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $39,000. Torren Management LLC acquired a new position in Onto Innovation during the 4th quarter valued at approximately $49,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onto Innovation during the 3rd quarter valued at approximately $47,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Onto Innovation during the 4th quarter valued at approximately $61,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $253.85 on Tuesday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00. The stock has a fifty day moving average of $243.81 and a two-hundred day moving average of $199.89. The firm has a market capitalization of $12.63 billion, a PE ratio of 118.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ONTO shares. Needham & Company LLC boosted their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Oppenheimer set a $370.00 price objective on Onto Innovation in a research report on Wednesday, May 6th. Evercore restated an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Onto Innovation has an average rating of “Buy” and a consensus target price of $310.63.

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.