Centiva Capital LP Increases Holdings in Onto Innovation Inc. (NYSE:ONTO)

Centiva Capital LP increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 823.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,445 shares of the semiconductor company's stock after purchasing an additional 11,097 shares during the period. Centiva Capital LP's holdings in Onto Innovation were worth $2,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. raised its stake in 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 during the last quarter. Johnson Financial Group Inc. purchased a new position in Onto Innovation in the 4th quarter valued at $38,000. Versant Capital Management Inc boosted its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 197 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation during the fourth quarter worth $43,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 30.2 %

NYSE ONTO traded down $38.31 during trading hours on Friday, reaching $88.50. The company had a trading volume of 8,576,820 shares, compared to its average volume of 843,076. The stock has a market capitalization of $4.32 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The stock has a 50-day moving average of $124.11 and a 200 day moving average of $160.08. Onto Innovation Inc. has a 1-year low of $86.05 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. As a group, sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ONTO. Needham & Company LLC lowered their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Nicolaus lowered their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Oppenheimer lowered their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $135.00 target price (down from $250.00) on shares of Onto Innovation in a research note on Monday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $186.25.

About Onto Innovation

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.