Mirabella Financial Services LLP Buys New Position in Onto Innovation Inc. (NYSE:ONTO)

Mirabella Financial Services LLP acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,029 shares of the semiconductor company's stock, valued at approximately $2,005,000.

A number of other hedge funds have also modified their holdings of ONTO. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $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% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after buying an additional 271,470 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after buying an additional 444,860 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after buying an additional 356,161 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

NYSE:ONTO traded up $0.25 during trading hours on Friday, reaching $125.96. The company's stock had a trading volume of 208,713 shares, compared to its average volume of 796,499. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a one year low of $98.21 and a one year high of $238.93. The business's 50-day moving average is $131.43 and its 200-day moving average is $166.87.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of several research analyst reports. Oppenheimer lowered their target price on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus decreased their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $218.13.

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.