Diversified Trust Co Makes New Investment in Onto Innovation Inc. $ONTO

Diversified Trust Co acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,139 shares of the semiconductor company’s stock, valued at approximately $644,000.

Several other large investors also recently modified their holdings of the stock. DUTCH ASSET Corp bought a new stake in Onto Innovation during the fourth quarter worth about $1,157,000. Corient Private Wealth LLC lifted its holdings in shares of Onto Innovation by 450.0% during the 4th quarter. Corient Private Wealth LLC now owns 10,676 shares of the semiconductor company’s stock worth $1,689,000 after acquiring an additional 8,735 shares during the period. MidFirst Bank bought a new stake in shares of Onto Innovation during the 4th quarter worth approximately $133,000. Pacer Advisors Inc. boosted its position in shares of Onto Innovation by 3,305.0% during the 4th quarter. Pacer Advisors Inc. now owns 335,018 shares of the semiconductor company’s stock worth $52,886,000 after acquiring an additional 325,179 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in Onto Innovation in the fourth quarter valued at approximately $52,160,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ONTO. Needham & Company LLC raised their target price on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Evercore reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Finally, Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.60.

Onto Innovation Trading Up 1.3%

Onto Innovation stock opened at $320.07 on Thursday. The stock has a 50-day moving average price of $285.65 and a two-hundred day moving average price of $228.56. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $349.38. The company has a market capitalization of $15.92 billion, a PE ratio of 149.57, a P/E/G ratio of 1.29 and a beta of 1.62.

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

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.