50,240 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Tidal Investments LLC

Tidal Investments LLC purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,240 shares of the semiconductor company's stock, valued at approximately $8,374,000. Tidal Investments LLC owned approximately 0.10% of Onto Innovation as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after purchasing an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. raised its position in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after purchasing an additional 183,839 shares during the last quarter. Franklin Resources Inc. raised its position in Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. raised its position in Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after purchasing an additional 356,161 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Up 1.1%

Shares of Onto Innovation stock opened at $100.48 on Tuesday. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The business has a fifty day simple moving average of $120.19 and a 200 day simple moving average of $155.23. The stock has a market cap of $4.91 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Benchmark lowered their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and an average price target of $177.14.

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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