Bessemer Group Inc. Has $29.29 Million Stock Holdings in Onto Innovation Inc. $ONTO

Bessemer Group Inc. trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 18.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,835 shares of the semiconductor company’s stock after selling 32,928 shares during the quarter. Bessemer Group Inc. owned about 0.29% of Onto Innovation worth $29,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Rock Investment Company LLC grew its stake in 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 buying an additional 5,000 shares during the last quarter. CWM LLC lifted its position in Onto Innovation by 361.2% during the fourth 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 boosted its holdings in shares of Onto Innovation by 11,228.9% during the fourth 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. AIA Group Ltd bought a new stake in shares of Onto Innovation during the third quarter worth approximately $1,246,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Onto Innovation in the fourth quarter valued at approximately $1,583,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONTO has been the subject of several research reports. Needham & Company LLC lifted their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Freedom Capital raised Onto Innovation to a “strong-buy” rating in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 price objective on the stock. B. Riley Financial lifted their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Onto Innovation has an average rating of “Buy” and an average target price of $339.60.

Onto Innovation Trading Down 0.9%

NYSE ONTO opened at $279.05 on Friday. The company has a market cap of $13.88 billion, a price-to-earnings ratio of 130.40, a PEG ratio of 1.14 and a beta of 1.55. The company has a 50 day moving average of $295.47 and a 200-day moving average of $246.75. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the business posted $1.51 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Onto Innovation 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.