Geneva Capital Management LLC Has $123.20 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Geneva Capital Management LLC raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,015,323 shares of the semiconductor company’s stock after purchasing an additional 4,632 shares during the quarter. Onto Innovation accounts for approximately 2.3% of Geneva Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Geneva Capital Management LLC owned about 2.08% of Onto Innovation worth $123,199,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings in shares of Onto Innovation by 48.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company’s stock valued at $156,700,000 after acquiring an additional 421,165 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after acquiring an additional 356,161 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Onto Innovation during the 1st quarter valued at $31,175,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Onto Innovation by 8,504.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company’s stock valued at $37,056,000 after acquiring an additional 219,746 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Onto Innovation by 80.9% during the 4th quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company’s stock valued at $68,786,000 after acquiring an additional 184,612 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ONTO shares. Wall Street Zen raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Oppenheimer cut their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Benchmark cut their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Stifel Nicolaus cut their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.67.

Onto Innovation Stock Down 0.5%

ONTO stock opened at $94.27 on Monday. The firm has a market cap of $4.60 billion, a PE ratio of 21.33, a P/E/G ratio of 0.61 and a beta of 1.44. The business has a 50 day moving average of $98.12 and a 200-day moving average of $126.71. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $228.42.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. Onto Innovation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. On average, research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.