Harvest Fund Management Co. Ltd Grows Position in Onto Innovation Inc. $ONTO

Harvest Fund Management Co. Ltd grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 8,588.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,605 shares of the semiconductor company’s stock after purchasing an additional 4,552 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Onto Innovation by 5.5% in the third quarter. Vanguard Group Inc. now owns 5,667,404 shares of the semiconductor company’s stock worth $732,342,000 after acquiring an additional 294,393 shares during the period. William Blair Investment Management LLC lifted its stake in Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after acquiring an additional 882,901 shares during the period. Wellington Management Group LLP lifted its stake in Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after acquiring an additional 1,292,772 shares during the period. Geode Capital Management LLC lifted its stake in Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company’s stock worth $178,024,000 after acquiring an additional 352,316 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Onto Innovation by 65.2% in the third quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock worth $144,016,000 after acquiring an additional 440,035 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research note on Friday. They issued a “buy” rating and a $350.00 price target for the company. Evercore reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a research note on Friday, April 17th. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Oppenheimer reissued an “outperform” rating on shares of Onto Innovation in a research report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $315.00.

Onto Innovation Price Performance

ONTO opened at $252.75 on Friday. The stock has a 50-day moving average price of $262.06 and a 200-day moving average price of $212.14. The firm has a market cap of $12.57 billion, a PE ratio of 118.11, a P/E/G ratio of 1.30 and a beta of 1.62. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (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 firm 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 earned $1.51 EPS. Onto Innovation’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 7.05 EPS for the current year.

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.