Franklin Resources Inc. Acquires 238,500 Shares of Onto Innovation Inc. $ONTO

Franklin Resources Inc. grew its position in Onto Innovation Inc. (NYSE:ONTO) by 21.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,353,001 shares of the semiconductor company’s stock after buying an additional 238,500 shares during the period. Franklin Resources Inc. owned 2.76% of Onto Innovation worth $213,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in shares of Onto Innovation by 71.2% in the 4th 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 acquired a new stake in shares of Onto Innovation in the 4th quarter valued at $39,000. Danske Bank A S acquired a new stake in shares of Onto Innovation in the 3rd quarter valued at $39,000. Covestor Ltd increased its stake in shares of Onto Innovation by 224.5% in the 4th 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 acquired a new stake in shares of Onto Innovation in the 4th quarter valued at $49,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ONTO. Evercore reissued an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research note on Friday, April 17th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Needham & Company LLC lifted their target price on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a research note on Monday, June 1st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $315.00.

Onto Innovation Trading Up 2.0%

NYSE ONTO opened at $274.24 on Wednesday. The stock has a 50-day simple moving average of $264.75 and a 200 day simple moving average of $214.77. The company has a market capitalization of $13.64 billion, a PE ratio of 128.15, a P/E/G ratio of 1.10 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 released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $1.51 earnings per share. As a group, sell-side analysts predict that Onto Innovation Inc. will post 7.11 earnings per share for the current fiscal year.

About Onto Innovation

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.