Onto Innovation Inc. $ONTO is Brilliance Asset Management Ltd.’s 3rd Largest Position

Brilliance Asset Management Ltd. boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,447 shares of the semiconductor company’s stock after buying an additional 30,846 shares during the quarter. Onto Innovation makes up about 15.5% of Brilliance Asset Management Ltd.’s holdings, making the stock its 3rd biggest position. Brilliance Asset Management Ltd.’s holdings in Onto Innovation were worth $39,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONTO. Wellington Management Group LLP lifted its position in Onto Innovation by 1,217.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock worth $180,778,000 after buying an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC lifted its position in Onto Innovation by 80.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock worth $256,083,000 after buying an additional 882,901 shares in the last quarter. Norges Bank purchased a new stake in Onto Innovation in the 4th quarter worth approximately $104,938,000. Jennison Associates LLC lifted its position in Onto Innovation by 1,293.5% in the 4th quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after buying an additional 631,965 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Onto Innovation by 88.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock worth $151,689,000 after buying an additional 451,084 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 12.3%

NYSE:ONTO opened at $302.36 on Friday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00. The firm’s fifty day simple moving average is $268.32 and its 200 day simple moving average is $217.03. The firm has a market capitalization of $15.04 billion, a PE ratio of 141.29, a PEG ratio of 1.10 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same period last year, the business posted $1.51 EPS. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Onto Innovation Inc. will post 7.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONTO. Deutsche Bank Aktiengesellschaft began coverage on shares of Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 price target on the stock. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Cantor Fitzgerald raised their price target on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $315.00.

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.