Onto Innovation Inc. (NYSE:ONTO) Shares Bought by CenterBook Partners LP

CenterBook Partners LP raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 83.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,016 shares of the semiconductor company's stock after purchasing an additional 3,192 shares during the quarter. CenterBook Partners LP's holdings in Onto Innovation were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock worth $2,680,000 after acquiring an additional 225 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Onto Innovation during the 1st quarter worth approximately $217,000. GAMMA Investing LLC raised its stake in shares of Onto Innovation by 75.0% during the 1st quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock worth $130,000 after buying an additional 458 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Onto Innovation during the first quarter worth approximately $420,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Onto Innovation by 16.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock worth $875,000 after purchasing an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

ONTO stock traded down $1.88 during mid-day trading on Friday, reaching $96.82. The company had a trading volume of 773,707 shares, compared to its average volume of 983,962. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The firm has a fifty day simple moving average of $97.85 and a 200 day simple moving average of $133.73.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. The firm had revenue of $267.00 million for the quarter, compared to the consensus estimate 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 last year, the business posted $1.18 EPS. As a group, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Benchmark dropped their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Oppenheimer dropped their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Needham & Company LLC decreased their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of "Moderate Buy" and an average price target of $141.67.

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.