Advisor Resource Council Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Advisor Resource Council acquired a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,361 shares of the semiconductor company's stock, valued at approximately $391,000.

A number of other hedge funds also recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $26,000. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Benchmark dropped their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Oppenheimer dropped their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and a consensus target price of $149.17.

Onto Innovation Stock Down 1.2%

Shares of NYSE:ONTO opened at $95.78 on Monday. The firm has a market cap of $4.68 billion, a P/E ratio of 21.67, a P/E/G ratio of 0.62 and a beta of 1.46. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The company's 50-day moving average price is $105.66 and its two-hundred day moving average price is $143.18.

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, beating the consensus estimate 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 net margin of 21.36% and a return on equity of 14.85%. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. As a group, equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.

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