Rockefeller Capital Management L.P. Takes $9.68 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Rockefeller Capital Management L.P. acquired a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,100 shares of the semiconductor company's stock, valued at approximately $9,684,000. Rockefeller Capital Management L.P. owned about 0.12% of Onto Innovation at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MML Investors Services LLC raised its stake in Onto Innovation by 6.6% during the third quarter. MML Investors Services LLC now owns 3,718 shares of the semiconductor company's stock worth $772,000 after acquiring an additional 230 shares in the last quarter. Barclays PLC grew its holdings in shares of Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after purchasing an additional 201,640 shares during the last quarter. Morse Asset Management Inc increased its position in Onto Innovation by 6.4% during the 3rd quarter. Morse Asset Management Inc now owns 16,749 shares of the semiconductor company's stock worth $3,476,000 after purchasing an additional 1,010 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Onto Innovation by 108.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,370 shares of the semiconductor company's stock valued at $492,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock valued at $288,320,000 after buying an additional 54,868 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Price Performance

Shares of Onto Innovation stock traded up $2.01 during midday trading on Tuesday, reaching $114.16. The company had a trading volume of 638,987 shares, compared to its average volume of 793,441. The firm has a market cap of $5.58 billion, a PE ratio of 28.12, a P/E/G ratio of 0.89 and a beta of 1.46. The stock has a fifty day moving average price of $133.60 and a 200 day moving average price of $167.77. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ONTO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.13.

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.