New Age Alpha Advisors LLC Purchases New Position in Onto Innovation Inc. $ONTO

New Age Alpha Advisors LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel reports. The fund acquired 5,974 shares of the semiconductor company’s stock, valued at approximately $943,000.

Several other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Danske Bank A S acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $39,000. Covestor Ltd grew its holdings in shares of Onto Innovation by 224.5% in the 4th quarter. Covestor Ltd now owns 305 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 211 shares during the period. Torren Management LLC bought a new stake in shares of Onto Innovation in the 4th quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Onto Innovation by 206.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 577 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 389 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO opened at $266.86 on Thursday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $316.00. The firm’s 50 day moving average price is $254.04 and its two-hundred day moving average price is $206.23. The firm has a market cap of $13.27 billion, a P/E ratio of 124.70, a PEG ratio of 1.34 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the previous year, the firm posted $1.51 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent analyst reports. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Needham & Company LLC increased their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Cantor Fitzgerald lifted their price objective on Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Buy” and a consensus price target 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.