Pacer Advisors Inc. Purchases 325,179 Shares of Onto Innovation Inc. $ONTO

Pacer Advisors Inc. grew its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 3,305.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 335,018 shares of the semiconductor company’s stock after purchasing an additional 325,179 shares during the quarter. Pacer Advisors Inc.’s holdings in Onto Innovation were worth $52,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 3,122 shares during the period. Goldman Sachs Group Inc. raised its position in Onto Innovation by 76.4% in the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after acquiring an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Onto Innovation by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after acquiring an additional 13,175 shares during the period. Cetera Investment Advisers raised its position in Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock worth $405,000 after acquiring an additional 238 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Onto Innovation by 182.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock worth $666,000 after acquiring an additional 4,283 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ONTO shares. Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday. Needham & Company LLC raised their target price on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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. Zacks Research lowered Onto Innovation from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.60.

Onto Innovation Stock Performance

ONTO opened at $333.41 on Friday. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 155.80, a PEG ratio of 1.36 and a beta of 1.62. The company has a fifty day moving average of $281.10 and a 200 day moving average of $224.40. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $348.76.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share 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.