Onto Innovation Inc. $ONTO Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 24.9% in the fourth quarter, Holdings Channel reports. The firm owned 9,939 shares of the semiconductor company’s stock after buying an additional 1,984 shares during the period. ProShare Advisors LLC’s holdings in Onto Innovation were worth $1,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. increased its position in shares of Onto Innovation by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Onto Innovation during the 3rd quarter worth about $39,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onto Innovation during the 3rd quarter worth about $47,000. Torren Management LLC acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Onto Innovation by 206.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 577 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 389 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

NYSE ONTO opened at $262.05 on Monday. The company has a market cap of $13.03 billion, a P/E ratio of 122.45, a P/E/G ratio of 1.28 and a beta of 1.70. The stock has a 50-day moving average of $249.36 and a two-hundred day moving average of $203.36. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $316.00.

Onto Innovation (NYSE:ONTO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The company 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%.Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. On average, analysts anticipate that Onto Innovation Inc. will post 6.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore restated an “outperform” rating and set a $315.00 target price on shares of Onto Innovation in a report on Friday, April 17th. B. Riley Financial lifted their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a research report on Wednesday, May 6th. 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. Finally, 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 report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $310.63.

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.