Onto Innovation Inc. $ONTO Holdings Trimmed by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC reduced its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,395 shares of the semiconductor company’s stock after selling 4,782 shares during the quarter. Onto Innovation accounts for 1.2% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Taylor Frigon Capital Management LLC’s holdings in Onto Innovation were worth $2,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. NewEdge Advisors LLC raised its position in Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 3,122 shares during the period. Goldman Sachs Group Inc. boosted its position in Onto Innovation by 76.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after acquiring an additional 208,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Onto Innovation by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after acquiring an additional 13,175 shares in the last quarter. Cetera Investment Advisers grew its stake in Onto Innovation by 6.3% during the 2nd quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after acquiring an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Onto Innovation by 182.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 4,283 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

ONTO opened at $291.23 on Thursday. The company has a market capitalization of $14.49 billion, a PE ratio of 136.09, a price-to-earnings-growth ratio of 1.14 and a beta of 1.55. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46. The business has a 50-day moving average of $293.30 and a 200-day moving average of $240.28.

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

Wall Street Analyst Weigh In

Several analysts recently commented on ONTO shares. B. Riley Financial raised their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Morgan Stanley assumed coverage on shares of Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective on the stock. Zacks Research downgraded shares of Onto Innovation from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Oppenheimer lifted their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, Evercore restated an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $339.60.

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.