Onto Innovation Inc. $ONTO Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Onto Innovation Inc. (NYSE:ONTO) by 1,144.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,315 shares of the semiconductor company’s stock after buying an additional 62,824 shares during the period. SG Americas Securities LLC’s holdings in Onto Innovation were worth $14,009,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC increased its position in shares of Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 3,122 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 valued at $58,517,000 after purchasing an additional 208,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 valued at $19,810,000 after purchasing an additional 13,175 shares during the last quarter. Cetera Investment Advisers grew its stake in Onto Innovation by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 4,283 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 5.9%

NYSE:ONTO opened at $323.79 on Friday. The company has a market cap of $16.11 billion, a PE ratio of 151.30, a P/E/G ratio of 1.41 and a beta of 1.62. The business’s 50 day moving average is $288.60 and its two-hundred day moving average is $230.53. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $353.18.

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, beating 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 for the quarter, compared to analyst estimates of $292.00 million. During the same period in the prior year, the company posted $1.51 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ONTO shares. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Oppenheimer lifted their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. B. Riley Financial upped their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 13th. Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $328.60.

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.