SG Capital Management LLC Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

SG Capital Management LLC acquired a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,473 shares of the semiconductor company's stock, valued at approximately $3,912,000.

Other hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in Onto Innovation during the fourth quarter valued at about $26,000. Mather Group LLC. boosted its stake in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Onto Innovation during the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. bought a new position in shares of Onto Innovation in the fourth quarter worth approximately $43,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Onto Innovation during the 4th quarter valued at about $47,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock traded down $1.50 on Wednesday, reaching $95.76. The company had a trading volume of 676,685 shares, compared to its average volume of 905,872. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 0.89 and a beta of 1.55. The firm's 50-day moving average price is $119.45 and its two-hundred day moving average price is $154.83. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The firm 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 20.43% and a return on equity of 14.24%. The company's revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONTO. Oppenheimer dropped their price target on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group cut Onto Innovation from a "buy" rating to a "hold" rating and cut their target price for the stock from $135.00 to $110.00 in a research note on Tuesday. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $135.00 price target (down from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.86.

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.