First National Advisers LLC Invests $336,000 in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• First National Advisers LLC has acquired a new position in Onto Innovation Inc., purchasing 2,772 shares valued at approximately $336,000 in the 1st quarter.
• Several large investors have increased their stakes in Onto Innovation, with 98.35% of the stock now owned by hedge funds and institutional investors.
• Research analysts have given Onto Innovation varying ratings, with an average price target of $141.67 and a consensus rating of "Moderate Buy".

First National Advisers LLC purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,772 shares of the semiconductor company's stock, valued at approximately $336,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC grew its position in Onto Innovation by 2.9% during the 1st quarter. Jennison Associates LLC now owns 3,142 shares of the semiconductor company's stock worth $381,000 after acquiring an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Onto Innovation by 2.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,860 shares of the semiconductor company's stock worth $468,000 after acquiring an additional 98 shares during the last quarter. Peterson Wealth Services grew its position in Onto Innovation by 2.2% during the 1st quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock worth $556,000 after acquiring an additional 98 shares during the last quarter. State of Michigan Retirement System grew its position in Onto Innovation by 0.9% during the 1st quarter. State of Michigan Retirement System now owns 11,800 shares of the semiconductor company's stock worth $1,432,000 after acquiring an additional 100 shares during the last quarter. Finally, Berbice Capital Management LLC grew its position in Onto Innovation by 33.3% during the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock worth $49,000 after acquiring an additional 100 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 5.8%

NYSE:ONTO traded down $5.95 during trading hours on Thursday, reaching $96.36. 518,721 shares of the company traded hands, compared to its average volume of 1,212,576. The business's 50-day moving average price is $98.08 and its two-hundred day moving average price is $129.26. The stock has a market capitalization of $4.71 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.66 and a beta of 1.45. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Needham & Company LLC cut their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Benchmark cut their price objective on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald dropped their price target 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, Stifel Nicolaus dropped their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and an average target price of $141.67.

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.