Zions Bancorporation National Association UT Acquires Shares of 21,737 Onto Innovation Inc. (NYSE:ONTO)

Key Points

• Zions Bancorporation National Association UT has purchased 21,737 shares of Onto Innovation Inc. for approximately $2.6 million, marking a new position in the semiconductor company.
• Onto Innovation's stock recently traded at $103.07 with a market capitalization of $5.03 billion and a PE ratio of 25.51.
• The company reported $1.25 earnings per share for the last quarter, slightly missing the consensus estimate of $1.27, although revenue increased by 4.7% year-over-year.

Zions Bancorporation National Association UT acquired a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 21,737 shares of the semiconductor company's stock, valued at approximately $2,638,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CenterBook Partners LP raised its position in Onto Innovation by 83.5% in the first quarter. CenterBook Partners LP now owns 7,016 shares of the semiconductor company's stock worth $851,000 after acquiring an additional 3,192 shares in the last quarter. Deutsche Bank AG raised its position in Onto Innovation by 26.4% in the first quarter. Deutsche Bank AG now owns 124,142 shares of the semiconductor company's stock worth $15,063,000 after acquiring an additional 25,953 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Onto Innovation by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 349,925 shares of the semiconductor company's stock worth $42,460,000 after acquiring an additional 8,539 shares in the last quarter. Geneva Capital Management LLC grew its holdings in Onto Innovation by 0.5% in the first quarter. Geneva Capital Management LLC now owns 1,015,323 shares of the semiconductor company's stock valued at $123,199,000 after purchasing an additional 4,632 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in Onto Innovation by 14.2% in the first quarter. Nicolet Advisory Services LLC now owns 2,879 shares of the semiconductor company's stock valued at $340,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the topic of several research reports. Oppenheimer lowered their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Needham & Company LLC decreased their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Cantor Fitzgerald reduced their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, B. Riley reduced their target price on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Stock Up 1.8%

Onto Innovation stock traded up $1.84 during trading hours on Monday, hitting $104.72. The stock had a trading volume of 2,249,160 shares, compared to its average volume of 1,366,213. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The company has a market cap of $5.13 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The company has a 50-day moving average of $98.54 and a two-hundred day moving average of $121.64.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.02). The business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%. The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. As a group, analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.