Granahan Investment Management LLC grew its stake in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,846 shares of the semiconductor company's stock after acquiring an additional 2,150 shares during the quarter. Granahan Investment Management LLC owned about 0.17% of Onto Innovation worth $7,459,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of ONTO. Evergreen Capital Management LLC increased its position in shares of Onto Innovation by 9.3% during the 4th quarter. Evergreen Capital Management LLC now owns 3,236 shares of the semiconductor company's stock worth $328,000 after purchasing an additional 275 shares during the last quarter. California Public Employees Retirement System acquired a new position in Onto Innovation in the 1st quarter valued at about $803,000. Allianz Asset Management GmbH grew its position in Onto Innovation by 40.1% in the 4th quarter. Allianz Asset Management GmbH now owns 44,336 shares of the semiconductor company's stock valued at $4,488,000 after acquiring an additional 12,679 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at about $72,000. Finally, Systematic Alpha Investments LLC acquired a new position in Onto Innovation in the 1st quarter valued at about $356,000. 95.06% of the stock is owned by institutional investors and hedge funds.
Get Onto Innovation alerts:Wall Street Analysts Forecast Growth
ONTO has been the subject of several research reports. B. Riley dropped their target price on Onto Innovation from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, June 15th. DA Davidson reiterated a "buy" rating on shares of Onto Innovation in a research note on Wednesday, July 27th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $110.00.
Onto Innovation Trading Up 2.1 %
Shares of NYSE ONTO opened at $71.49 on Friday. The stock has a market cap of $3.55 billion, a P/E ratio of 18.96 and a beta of 1.36. The stock has a 50 day moving average of $75.17 and a two-hundred day moving average of $76.32. Onto Innovation Inc. has a twelve month low of $59.95 and a twelve month high of $106.09.Onto Innovation (NYSE:ONTO – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. Onto Innovation had a return on equity of 16.52% and a net margin of 20.36%. The firm had revenue of $256.30 million for the quarter, compared to analyst estimates of $241.80 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Onto Innovation's quarterly revenue was up 32.5% on a year-over-year basis. As a group, research analysts predict that Onto Innovation Inc. will post 5.27 earnings per share for the current year.
Onto Innovation Company Profile
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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
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