Granahan Investment Management LLC grew its stake in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,846 shares of the semiconductor company's stock after acquiring an additional 2,150 shares during the quarter. Granahan Investment Management LLC owned about 0.17% of Onto Innovation worth $7,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ONTO. Evergreen Capital Management LLC increased its position in shares of Onto Innovation by 9.3% during the 4th quarter. Evergreen Capital Management LLC now owns 3,236 shares of the semiconductor company's stock worth $328,000 after purchasing an additional 275 shares during the last quarter. California Public Employees Retirement System acquired a new position in Onto Innovation in the 1st quarter valued at about $803,000. Allianz Asset Management GmbH grew its position in Onto Innovation by 40.1% in the 4th quarter. Allianz Asset Management GmbH now owns 44,336 shares of the semiconductor company's stock valued at $4,488,000 after acquiring an additional 12,679 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at about $72,000. Finally, Systematic Alpha Investments LLC acquired a new position in Onto Innovation in the 1st quarter valued at about $356,000. 95.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONTO has been the subject of several research reports. B. Riley dropped their target price on Onto Innovation from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, June 15th. DA Davidson reiterated a "buy" rating on shares of Onto Innovation in a research note on Wednesday, July 27th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $110.00.

Onto Innovation Trading Up 2.1 %

Onto Innovation (NYSE:ONTO – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. Onto Innovation had a return on equity of 16.52% and a net margin of 20.36%. The firm had revenue of $256.30 million for the quarter, compared to analyst estimates of $241.80 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. Onto Innovation's quarterly revenue was up 32.5% on a year-over-year basis. As a group, research analysts predict that Onto Innovation Inc. will post 5.27 earnings per share for the current year.

Onto Innovation Company Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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