Westfield Capital Management Co. LP Raises Stake in Onto Innovation Inc. $ONTO

Westfield Capital Management Co. LP raised its position in Onto Innovation Inc. (NYSE:ONTO) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,082 shares of the semiconductor company’s stock after acquiring an additional 8,552 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.99% of Onto Innovation worth $76,259,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Onto Innovation by 1.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock worth $643,000 after purchasing an additional 75 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Onto Innovation by 1.9% during the third quarter. Advisors Asset Management Inc. now owns 5,059 shares of the semiconductor company’s stock worth $654,000 after purchasing an additional 93 shares in the last quarter. Westside Investment Management Inc. raised its holdings in Onto Innovation by 100.0% during the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Onto Innovation by 44.5% during the fourth quarter. Blue Trust Inc. now owns 406 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Needham & Company LLC raised their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a report on Monday. B. Riley Financial raised their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $315.00.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $274.94 on Friday. The firm’s fifty day simple moving average is $261.43 and its 200-day simple moving average is $211.85. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 128.47, a PEG ratio of 1.32 and a beta of 1.62. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business 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 company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Analysts anticipate that Onto Innovation Inc. will post 7.05 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.