Onto Innovation Inc. $ONTO Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 165.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 196,642 shares of the semiconductor company’s stock after acquiring an additional 122,520 shares during the quarter. Onto Innovation makes up 1.3% of Granahan Investment Management LLC’s portfolio, making the stock its 24th biggest position. Granahan Investment Management LLC owned 0.40% of Onto Innovation worth $31,042,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors LLC lifted its stake in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares in the last quarter. 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 worth $28,000 after acquiring an additional 74 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 128 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth about $39,000. Finally, Danske Bank A S acquired a new position in shares of Onto Innovation in the third quarter worth about $39,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $316.49 on Wednesday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $348.76. The stock has a fifty day moving average of $274.99 and a two-hundred day moving average of $221.01. The firm has a market capitalization of $15.74 billion, a PE ratio of 147.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62.

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 7.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. 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 report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective for the company. Zacks Research lowered Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Cantor Fitzgerald boosted their price objective on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $320.60.

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.