Onto Innovation Inc. $ONTO Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in Onto Innovation Inc. (NYSE:ONTO) by 26.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,082 shares of the semiconductor company’s stock after selling 71,143 shares during the period. The Manufacturers Life Insurance Company’s holdings in Onto Innovation were worth $40,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC lifted its holdings in Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC lifted its stake in Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares during the last quarter. Millstone Evans Group LLC increased its stake in Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the last quarter. Danske Bank A S purchased a new position in Onto Innovation in the third quarter valued at approximately $39,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Onto Innovation during the fourth quarter worth approximately $39,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONTO has been the topic of several research analyst reports. Cantor Fitzgerald lifted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Needham & Company LLC lifted their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $339.60.

Onto Innovation Trading Up 14.8%

Shares of ONTO stock opened at $250.62 on Friday. The business’s 50 day moving average is $295.26 and its two-hundred day moving average is $253.33. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The company has a market capitalization of $12.47 billion, a P/E ratio of 117.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 7.14 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.