BNP Paribas Financial Markets Acquires 9,888 Shares of Onto Innovation Inc. $ONTO

BNP Paribas Financial Markets increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,523 shares of the semiconductor company’s stock after acquiring an additional 9,888 shares during the period. BNP Paribas Financial Markets’ holdings in Onto Innovation were worth $35,443,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in Onto Innovation by 31.2% during the 3rd quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company’s stock worth $18,806,000 after acquiring an additional 34,567 shares during the last quarter. Eagle Rock Investment Company LLC grew its position in Onto Innovation by 99.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after acquiring an additional 5,000 shares during the last quarter. CWM LLC grew its position in Onto Innovation by 361.2% during the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after acquiring an additional 15,717 shares during the last quarter. AI Squared Management Ltd bought a new stake in Onto Innovation during the 3rd quarter worth approximately $7,792,000. Finally, Brevan Howard Capital Management LP bought a new stake in Onto Innovation during the 3rd quarter worth approximately $3,436,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO opened at $280.76 on Thursday. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 131.20, a PEG ratio of 1.31 and a beta of 1.62. The business’s fifty day moving average price is $260.31 and its two-hundred day moving average price is $210.82. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $316.00.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.51 EPS. As a group, research analysts forecast that Onto Innovation Inc. will post 7.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ONTO shares. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Evercore reiterated an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research report on Friday, April 17th. Needham & Company LLC increased their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial increased their price objective on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $310.63.

Onto Innovation 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.