Sterling Capital Management LLC Has $1.09 Million Stock Holdings in Onto Innovation Inc. $ONTO

Sterling Capital Management LLC boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 129.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,329 shares of the semiconductor company’s stock after buying an additional 3,010 shares during the period. Sterling Capital Management LLC’s holdings in Onto Innovation were worth $1,093,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Onto Innovation by 1,217.0% during 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 last quarter. Norges Bank acquired a new stake in Onto Innovation during the 4th quarter worth approximately $104,938,000. Jennison Associates LLC boosted its stake 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 valued at $107,475,000 after purchasing an additional 631,965 shares during the period. AQR Capital Management LLC grew its holdings in Onto Innovation by 315.8% in the 4th quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock valued at $97,187,000 after buying an additional 467,587 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Onto Innovation by 88.5% during 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 during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $378.48 on Wednesday. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46. The stock has a market capitalization of $18.83 billion, a P/E ratio of 176.86, a PEG ratio of 1.43 and a beta of 1.62. The stock’s fifty day moving average is $292.05 and its 200 day moving average is $233.83.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Onto Innovation’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Research cut shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Jefferies Financial Group reissued a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Morgan Stanley initiated coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They set an “overweight” rating and a $371.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Onto Innovation in a report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $339.60.

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.