Onto Innovation Inc. $ONTO Shares Sold by Swedbank AB

Swedbank AB reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,600 shares of the semiconductor company’s stock after selling 29,900 shares during the quarter. Swedbank AB’s holdings in Onto Innovation were worth $13,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of Onto Innovation by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $37,000. Danske Bank A S purchased a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $39,000. Farther Finance Advisors LLC boosted its stake in shares of Onto Innovation by 76.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 139 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $47,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of ONTO opened at $285.26 on Friday. The business’s fifty day moving average price is $234.97 and its 200 day moving average price is $192.82. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $316.00. The stock has a market capitalization of $14.19 billion, a PE ratio of 133.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.70.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period last year, the business posted $1.51 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Onto Innovation Inc. will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. B. Riley Financial increased their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Cantor Fitzgerald raised their price objective on Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Jefferies Financial Group restated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a research note on Wednesday. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $310.63.

About Onto Innovation

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.