Andar Capital Management HK Ltd Lowers Stock Position in Onto Innovation Inc. $ONTO

Andar Capital Management HK Ltd trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,000 shares of the semiconductor company’s stock after selling 8,640 shares during the period. Onto Innovation accounts for approximately 13.7% of Andar Capital Management HK Ltd’s portfolio, making the stock its 2nd largest holding. Andar Capital Management HK Ltd owned 0.16% of Onto Innovation worth $15,995,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 56 shares during the period. Kestra Advisory Services LLC lifted its holdings in Onto Innovation by 4.9% during the first quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 64 shares during the last quarter. Root Financial Partners LLC boosted its position in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Onto Innovation by 8.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 92 shares in the last quarter. Finally, Millstone Evans Group LLC raised its position in shares of Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Down 0.5%

ONTO opened at $278.45 on Tuesday. The business’s fifty day simple moving average is $295.27 and its 200 day simple moving average is $248.20. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46. The stock has a market cap of $13.85 billion, a PE ratio of 130.12, a P/E/G ratio of 1.14 and a beta of 1.55.

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 the consensus estimate of $1.38 by $0.04. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, equities analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONTO. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Onto Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $350.00 target price for the company. Finally, Morgan Stanley initiated coverage on Onto Innovation in a research report on Sunday, June 14th. They set an “overweight” rating and a $371.00 price target on the stock. 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. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Buy” and a consensus target price of $339.60.

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.