Ethic Inc. Invests $710,000 in Onto Innovation Inc. (NYSE:ONTO)

Ethic Inc. purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,258 shares of the semiconductor company's stock, valued at approximately $710,000.

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its stake in 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 acquiring an additional 201,640 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Onto Innovation by 8.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 159,346 shares of the semiconductor company's stock worth $26,558,000 after buying an additional 12,798 shares during the last quarter. Argent Capital Management LLC acquired a new stake in shares of Onto Innovation in the 4th quarter worth $437,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Onto Innovation by 22.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company's stock worth $1,175,000 after acquiring an additional 1,276 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.3%

Onto Innovation stock traded down $1.27 during midday trading on Tuesday, reaching $99.15. The company's stock had a trading volume of 210,715 shares, compared to its average volume of 898,935. The company has a market cap of $4.84 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.89 and a beta of 1.55. The business has a 50-day simple moving average of $120.19 and a 200-day simple moving average of $155.23. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93.

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

Analysts Set New Price Targets

Several research firms recently issued reports on ONTO. Cantor Fitzgerald restated a "neutral" rating and set a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Oppenheimer decreased their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group downgraded Onto Innovation from a "buy" rating to a "hold" rating and reduced their target price for the company from $135.00 to $110.00 in a research report on Tuesday. Finally, Needham & Company LLC cut their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $167.86.

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.