ING Groep NV Sells 75,000 Shares of Onto Innovation Inc. $ONTO

ING Groep NV lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 77.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,900 shares of the semiconductor company’s stock after selling 75,000 shares during the period. ING Groep NV’s holdings in Onto Innovation were worth $3,457,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Root Financial Partners LLC lifted its stake in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Onto Innovation in the fourth quarter valued at about $39,000. Danske Bank A S bought a new stake in shares of Onto Innovation in the third quarter valued at about $39,000. Covestor Ltd lifted its stake in shares of Onto Innovation by 224.5% in the fourth quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 211 shares during the period. Finally, Torren Management LLC bought a new stake in shares of Onto Innovation in the fourth quarter valued at about $49,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 6.2%

Shares of ONTO opened at $268.88 on Tuesday. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 125.65, a P/E/G ratio of 1.20 and a beta of 1.63. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $316.00. The company has a 50-day moving average price of $263.35 and a two-hundred day moving average price of $213.76.

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 analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter last year, the company earned $1.51 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts expect that Onto Innovation Inc. will post 7.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. B. Riley Financial raised their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Needham & Company LLC raised 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. Finally, Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $315.00.

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.