Bessemer Group Inc. Sells 13,910 Shares of Onto Innovation Inc. $ONTO

Bessemer Group Inc. lessened its position in Onto Innovation Inc. (NYSE:ONTO) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,763 shares of the semiconductor company’s stock after selling 13,910 shares during the period. Bessemer Group Inc.’s holdings in Onto Innovation were worth $27,745,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ONTO. Wellington Management Group LLP increased its stake in Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company’s stock valued at $180,778,000 after purchasing an additional 1,292,772 shares in the last quarter. William Blair Investment Management LLC increased its stake in Onto Innovation by 80.3% in the third quarter. William Blair Investment Management LLC now owns 1,981,761 shares of the semiconductor company’s stock valued at $256,083,000 after purchasing an additional 882,901 shares in the last quarter. Jennison Associates LLC increased its stake in Onto Innovation by 1,293.5% in the fourth 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in Onto Innovation by 88.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock valued at $151,689,000 after purchasing an additional 451,084 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Onto Innovation by 65.2% in the third quarter. Franklin Resources Inc. now owns 1,114,501 shares of the semiconductor company’s stock valued at $144,016,000 after purchasing an additional 440,035 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 2.0%

Shares of ONTO stock opened at $271.66 on Friday. The firm has a fifty day moving average of $242.67 and a 200-day moving average of $198.57. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $316.00. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 126.94, a P/E/G ratio of 1.33 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping 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 company 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 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts expect that Onto Innovation Inc. will post 6.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ONTO. Jefferies Financial Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Evercore reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research note on Friday, April 17th. Oppenheimer set a $370.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $310.63.

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.