Keeley Teton Comments on Onto Innovation

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Sydnee Gatewood
Jun 11, 2021

Summary

  • The stock was a leading contributor.
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Onto Innovation Inc (

ONTO, Financial) is a semicap equipment provider, formed from the merger of NanometricsInc and Rudolph Technologies Inc. After doubling in size, the company led a product refresh cycle which culminated in share gains and strong earnings this past quarter. Though tech stocks faltered midway through the quarter, the Onto continued its upwards trajectory as key customers Taiwan Semiconductor (TSM) and Intel (INTC) both announced plans to expand production capacity with new fab builds. These actions form a strongly supportive backdrop for an extended period to come.

From Keeley Teton Small Cap Select Value Fund's first-quarter 2021 commentary.

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I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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