Empowered Funds LLC Buys 11,883 Shares of Onto Innovation Inc. $ONTO

Key Points

• Empowered Funds LLC increased its Onto Innovation stake by 703.6% in the first quarter, buying 11,883 additional shares for a total holding valued at approximately $2.8 million. Institutional investors own 98.35% of the company.
• Analyst sentiment remains positive, with Onto Innovation receiving an average “Buy” rating and a consensus price target of $339.60. Recent targets range from $330 to $410.
• Onto Innovation reported quarterly EPS of $1.42, beating estimates of $1.38, while revenue rose 9.5% year over year to $291.95 million. Shares were recently trading at $288.64, with a market capitalization of $14.36 billion.

Empowered Funds LLC lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 703.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,572 shares of the semiconductor company's stock after buying an additional 11,883 shares during the period. Empowered Funds LLC's holdings in Onto Innovation were worth $2,783,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. 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 worth $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 115 shares during the last quarter. Millstone Evans Group LLC grew its holdings in shares of Onto Innovation by 147.8% during the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 99 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Onto Innovation by 109.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company's stock valued at $39,000 after buying an additional 128 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Onto Innovation in the 4th quarter valued at approximately $39,000. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONTO has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Onto Innovation in a report on Friday, July 24th. Jefferies Financial Group reiterated a "buy" rating and set a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Zacks Research raised shares of Onto Innovation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Needham & Company LLC increased their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald lifted their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Two 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 company's stock. According to MarketBeat.com, Onto Innovation has an average rating of "Buy" and a consensus target price of $339.60.

Onto Innovation Trading Up 7.5%

Shares of Onto Innovation stock opened at $288.64 on Wednesday. The business has a 50-day moving average price of $295.61 and a two-hundred day moving average price of $254.91. Onto Innovation Inc. has a 1-year low of $89.40 and a 1-year high of $386.46. The company has a market cap of $14.36 billion, a P/E ratio of 134.88, a PEG ratio of 1.10 and a beta of 1.59.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period in the previous year, the business earned $1.51 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

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.

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