TimesSquare Capital Management LLC Raises Stock Position in Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,825 shares of the semiconductor company's stock after acquiring an additional 16,449 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.35% of Onto Innovation worth $20,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after buying an additional 151 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Onto Innovation during the 4th quarter valued at about $38,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Onto Innovation during the 4th quarter valued at about $47,000. Berbice Capital Management LLC increased its stake in shares of Onto Innovation by 33.3% in the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Onto Innovation by 165.0% in the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 386 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 0.8%

Shares of ONTO traded up $0.76 during mid-day trading on Tuesday, hitting $99.76. 762,804 shares of the company's stock were exchanged, compared to its average volume of 981,868. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93. The firm has a market capitalization of $4.87 billion, a P/E ratio of 22.57, a P/E/G ratio of 0.66 and a beta of 1.45. The business's 50 day moving average is $99.26 and its two-hundred day moving average is $135.42.

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, topping the consensus estimate of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Benchmark lowered their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Stifel Nicolaus lowered their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.67.

Onto Innovation 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.