Onto Innovation Inc. $ONTO Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,102,438 shares of the semiconductor company’s stock after selling 23,400 shares during the period. Onto Innovation accounts for about 8.6% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 4th largest position. Paradigm Capital Management Inc. NY owned about 2.22% of Onto Innovation worth $226,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Eagle Rock Investment Company LLC increased its position in shares of Onto Innovation by 99.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after acquiring an additional 5,000 shares during the period. CWM LLC raised its stake in Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after acquiring an additional 15,717 shares during the last quarter. M&T Bank Corp lifted its position in Onto Innovation by 11,228.9% during the 4th quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock worth $53,848,000 after acquiring an additional 338,101 shares during the period. Fideuram Asset Management Ireland dac acquired a new stake in Onto Innovation during the 4th quarter worth about $1,583,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Onto Innovation by 148.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company’s stock valued at $45,052,000 after purchasing an additional 162,433 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $271.83 on Friday. The firm’s fifty day moving average is $296.34 and its two-hundred day moving average is $251.19. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 127.02, a PEG ratio of 1.19 and a beta of 1.55. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $386.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data 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. The business had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. As a group, equities research analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ONTO shares. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective for the company. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. 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. Morgan Stanley started coverage on shares of Onto Innovation in a report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Finally, Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.