AMF Tjanstepension AB Has $4.15 Million Stake in Onto Innovation Inc. $ONTO

Key Points

• AMF Tjanstepension AB reduced its Onto Innovation stake by 18.2% in the first quarter, selling 4,497 shares and leaving it with 20,241 shares valued at about $4.15 million.
• Onto Innovation reported better-than-expected quarterly earnings, posting $1.42 EPS versus $1.38 expected, while revenue came in near estimates at $291.95 million and rose 9.5% year over year.
• Wall Street remains generally upbeat on the stock, with analysts maintaining mostly Buy ratings and an average price target of $339.60; the shares recently traded at $321.53.

AMF Tjanstepension AB lessened its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,241 shares of the semiconductor company's stock after selling 4,497 shares during the period. AMF Tjanstepension AB's holdings in Onto Innovation were worth $4,151,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Onto Innovation by 1,217.0% in the third quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company's stock valued at $180,778,000 after buying an additional 1,292,772 shares during the period. Norges Bank acquired a new position in shares of Onto Innovation in the fourth quarter valued at $104,938,000. Jennison Associates LLC raised its position in shares of Onto Innovation by 1,293.5% in the fourth quarter. Jennison Associates LLC now owns 680,822 shares of the semiconductor company's stock valued at $107,475,000 after purchasing an additional 631,965 shares during the period. AQR Capital Management LLC raised its position in shares of Onto Innovation by 315.8% in the fourth quarter. AQR Capital Management LLC now owns 615,651 shares of the semiconductor company's stock valued at $97,187,000 after purchasing an additional 467,587 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Onto Innovation by 88.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company's stock worth $151,689,000 after buying an additional 451,084 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Up 0.0%

Shares of ONTO stock opened at $321.53 on Monday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The company has a market cap of $15.99 billion, a P/E ratio of 150.25, a P/E/G ratio of 1.31 and a beta of 1.55. The business has a fifty day simple moving average of $294.75 and a 200 day simple moving average of $242.56.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 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%. The firm's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Needham & Company LLC boosted their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research note on Friday, June 5th. They issued a "buy" rating and a $350.00 price target on the stock. Evercore reaffirmed an "outperform" rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Finally, Cantor Fitzgerald lifted their price objective on shares of Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $339.60.

About Onto Innovation

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.

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