Tealwood Asset Management Inc. Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Tealwood Asset Management Inc. purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,923 shares of the semiconductor company's stock, valued at approximately $840,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its stake in Onto Innovation by 24.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,741 shares of the semiconductor company's stock worth $1,061,000 after buying an additional 1,690 shares during the last quarter. GAMMA Investing LLC grew its holdings in Onto Innovation by 21,129.5% during the 1st quarter. GAMMA Investing LLC now owns 129,712 shares of the semiconductor company's stock worth $15,739,000 after acquiring an additional 129,101 shares during the period. Versant Capital Management Inc raised its position in shares of Onto Innovation by 165.0% in the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock worth $75,000 after acquiring an additional 386 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Onto Innovation by 8.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,380 shares of the semiconductor company's stock valued at $167,000 after purchasing an additional 110 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Up 1.9%

Shares of ONTO traded up $1.85 during trading hours on Tuesday, reaching $101.31. The stock had a trading volume of 1,091,300 shares, compared to its average volume of 951,750. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 0.89 and a beta of 1.45. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The firm has a 50-day simple moving average of $108.65 and a 200 day simple moving average of $147.13.

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

Analysts Set New Price Targets

ONTO has been the subject of a number of research analyst reports. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. 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 dropped their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Stifel Nicolaus reduced their price target 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and a consensus price target of $167.86.

About Onto Innovation

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.