Alua Capital Management LP Invests $27.01 Million in Onto Innovation Inc. $ONTO

Alua Capital Management LP bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 131,721 shares of the semiconductor company’s stock, valued at approximately $27,012,000. Onto Innovation makes up 2.4% of Alua Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Alua Capital Management LP owned approximately 0.26% of Onto Innovation at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ONTO. Parallel Advisors LLC grew its holdings in Onto Innovation by 16.5% during the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 56 shares in the last quarter. Kestra Advisory Services LLC grew its stake 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 acquiring an additional 64 shares in the last quarter. Root Financial Partners LLC increased its holdings in Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Onto Innovation by 8.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after acquiring an additional 92 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its stake in Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 6.7%

Shares of ONTO opened at $271.83 on Friday. The company’s fifty day simple moving average is $296.34 and its 200-day simple moving average is $251.19. The company has a market cap of $13.52 billion, a P/E ratio of 127.02, a P/E/G ratio of 1.11 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ONTO shares. Cantor Fitzgerald lifted their price objective on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Oppenheimer raised their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Morgan Stanley assumed coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Finally, Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $339.60.

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.