D.A. Davidson & CO. Acquires 1,810 Shares of Onto Innovation Inc. $ONTO

D.A. Davidson & CO. grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 113.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,400 shares of the semiconductor company’s stock after purchasing an additional 1,810 shares during the period. D.A. Davidson & CO.’s holdings in Onto Innovation were worth $697,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC grew its position in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after buying an additional 115 shares in the last quarter. Millstone Evans Group LLC boosted its stake in shares of Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after buying an additional 99 shares during the last quarter. Danske Bank A S acquired a new position in shares of Onto Innovation during the 3rd quarter worth about $39,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Onto Innovation during the 4th quarter worth about $39,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $291.31 on Friday. The firm’s 50-day moving average is $296.34 and its 200-day moving average is $251.05. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 136.13, a PEG ratio of 1.21 and a beta of 1.55. Onto Innovation Inc. has a 52-week low of $89.40 and a 52-week high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. Onto Innovation’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. Sell-side analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of recent research reports. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Oppenheimer upped their price objective on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.