Andar Capital Management HK Ltd Acquires Shares of 110,000 Onto Innovation Inc. $ONTO

Andar Capital Management HK Ltd purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 110,000 shares of the semiconductor company’s stock, valued at approximately $14,214,000. Onto Innovation accounts for 14.4% of Andar Capital Management HK Ltd’s holdings, making the stock its 2nd biggest position. Andar Capital Management HK Ltd owned approximately 0.22% of Onto Innovation at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Westside Investment Management Inc. lifted its position in shares of Onto Innovation by 100.0% in the third quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Blue Trust Inc. boosted its stake in Onto Innovation by 2,061.5% during the 3rd quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 268 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Onto Innovation during the third quarter worth $37,000. Farther Finance Advisors LLC raised its position in shares of Onto Innovation by 76.8% in the third quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 139 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Onto Innovation in the third quarter worth about $47,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $216.99 on Friday. The firm has a market capitalization of $10.63 billion, a PE ratio of 61.30, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $229.87. The firm’s 50-day moving average is $186.46 and its two-hundred day moving average is $145.53.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONTO. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. Stifel Nicolaus upped their target price on Onto Innovation from $126.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Evercore lifted their price target on Onto Innovation from $115.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Needham & Company LLC upped their price objective on shares of Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.75.

Onto Innovation Company 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.