Taylor Frigon Capital Management LLC Boosts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Taylor Frigon Capital Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 44.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,709 shares of the semiconductor company's stock after buying an additional 5,143 shares during the period. Taylor Frigon Capital Management LLC's holdings in Onto Innovation were worth $2,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after buying an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after purchasing an additional 183,839 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after purchasing an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after purchasing an additional 356,161 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Benchmark decreased their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC decreased their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Oppenheimer decreased their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Cantor Fitzgerald decreased their target price on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Stock Down 1.6%

NYSE:ONTO opened at $98.66 on Monday. The company has a market capitalization of $4.82 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $238.93. The stock has a fifty day simple moving average of $103.68 and a 200-day simple moving average of $140.74.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The firm had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same quarter in the previous year, the company posted $1.18 EPS. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.

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