6,923 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. bought a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 6,923 shares of the semiconductor company's stock, valued at approximately $840,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in Onto Innovation in the 4th quarter worth $26,000. Mather Group LLC. raised its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 111 shares during the period. Johnson Financial Group Inc. purchased a new position in Onto Innovation in the 4th quarter worth $38,000. MassMutual Private Wealth & Trust FSB raised its position in Onto Innovation by 177.6% in 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. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

NYSE:ONTO opened at $96.09 on Friday. The firm has a market capitalization of $4.69 billion, a P/E ratio of 23.67, a PEG ratio of 0.89 and a beta of 1.45. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93. The company's 50-day simple moving average is $109.34 and its 200 day simple moving average is $148.14.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 20.43% and a return on equity of 14.24%. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ONTO shares. Cantor Fitzgerald restated 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. Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Benchmark cut their target price on shares of Onto Innovation from $230.00 to $190.00 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 shares of Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $167.86.

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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