Segall Bryant & Hamill LLC Reduces Stock Position in Onto Innovation Inc. $ONTO

Segall Bryant & Hamill LLC decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 30.9% in the 1st quarter, HoldingsChannel reports. The firm owned 275,689 shares of the semiconductor company’s stock after selling 123,516 shares during the period. Onto Innovation makes up about 0.7% of Segall Bryant & Hamill LLC’s holdings, making the stock its 14th largest holding. Segall Bryant & Hamill LLC’s holdings in Onto Innovation were worth $56,536,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 1,292,772 shares in the last quarter. Norges Bank purchased a new position in shares of Onto Innovation during the fourth quarter valued at approximately $104,938,000. Jennison Associates LLC boosted its position in Onto Innovation by 1,293.5% during the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company’s stock worth $107,475,000 after acquiring an additional 631,965 shares during the last quarter. AQR Capital Management LLC boosted its position in Onto Innovation by 315.8% during the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company’s stock worth $97,187,000 after acquiring an additional 467,587 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Onto Innovation by 88.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company’s stock worth $151,689,000 after acquiring an additional 451,084 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Onto Innovation stock opened at $257.81 on Friday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $386.46. The firm has a 50 day moving average price of $295.17 and a 200 day moving average price of $253.36. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 120.47, a PEG ratio of 1.02 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $291.95 million for 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%. Onto Innovation’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 earnings per share. Sell-side analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ONTO. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Zacks Research raised Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Freedom Capital upgraded Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Needham & Company LLC increased their target price on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Onto Innovation has an average rating of “Buy” and an average price target of $339.60.

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.