Bessemer Group Inc. Has $24.51 Million Holdings in Onto Innovation Inc. $ONTO

Bessemer Group Inc. boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 52.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,673 shares of the semiconductor company’s stock after buying an additional 65,024 shares during the period. Bessemer Group Inc. owned approximately 0.39% of Onto Innovation worth $24,510,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EFG Asset Management North America Corp. bought a new stake in shares of Onto Innovation during the 3rd quarter valued at about $1,549,000. New York State Common Retirement Fund boosted its holdings in shares of Onto Innovation by 64.9% during the 3rd quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock worth $15,149,000 after buying an additional 46,118 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Onto Innovation by 36.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock worth $6,613,000 after buying an additional 13,714 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Onto Innovation in the 2nd quarter valued at $258,000. Finally, Liberty One Investment Management LLC bought a new stake in shares of Onto Innovation in the 3rd quarter valued at $1,408,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Up 10.6%

ONTO opened at $208.81 on Friday. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $227.07. The company’s 50-day moving average price is $180.28 and its two-hundred day moving average price is $141.11. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 58.99, a PEG ratio of 1.04 and a beta of 1.50.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Onto Innovation had a net margin of 17.46% and a return on equity of 13.11%. The company had revenue of $218.19 million for the quarter, compared to analysts’ expectations of $220.23 million. During the same quarter in the previous year, the firm posted $1.34 EPS. Onto Innovation’s revenue was down 13.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Onto Innovation from $126.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, January 14th. Oppenheimer raised their target price on Onto Innovation from $130.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of Onto Innovation in a research report on Tuesday, December 16th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, Needham & Company LLC raised their price objective on Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.75.

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.