Y Intercept Hong Kong Ltd Invests $5.51 Million in Onto Innovation Inc. $ONTO

Y Intercept Hong Kong Ltd acquired a new position in Onto Innovation Inc. (NYSE:ONTO) during the 1st quarter, Holdings Channel reports. The fund acquired 26,876 shares of the semiconductor company’s stock, valued at approximately $5,511,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC increased its holdings in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 115 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at about $39,000. Finally, Danske Bank A S acquired a new stake in shares of Onto Innovation in the third quarter valued at approximately $39,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Onto Innovation stock opened at $308.87 on Friday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock has a market capitalization of $15.36 billion, a P/E ratio of 144.33, a P/E/G ratio of 1.26 and a beta of 1.55. The firm’s 50-day moving average is $293.78 and its two-hundred day moving average is $236.75.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. As a group, analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Jefferies Financial Group reissued a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a research report on Wednesday, May 6th. Finally, Oppenheimer boosted their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.