256,920 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 256,920 shares of the semiconductor company's stock, valued at approximately $31,175,000. Vaughan Nelson Investment Management L.P. owned 0.53% of Onto Innovation at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter worth $26,000. MassMutual Private Wealth & Trust FSB grew its position in Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Onto Innovation during the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation during the 4th quarter valued at about $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Onto Innovation in the fourth quarter worth about $47,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONTO has been the subject of a number of analyst reports. Benchmark decreased their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Oppenheimer lowered their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC decreased their price objective on shares of 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average target price of $167.86.

Onto Innovation Stock Performance

NYSE:ONTO opened at $94.78 on Friday. The stock has a market capitalization of $4.63 billion, a PE ratio of 23.34, a P/E/G ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93. The company has a fifty day moving average of $108.12 and a two-hundred day moving average of $145.78.

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

Onto Innovation Company 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.

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