Cetera Investment Advisers Has $877,000 Stake in Onto Innovation Inc. (NYSE:ONTO)

Cetera Investment Advisers lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,263 shares of the semiconductor company's stock after selling 4,577 shares during the quarter. Cetera Investment Advisers' holdings in Onto Innovation were worth $877,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after buying an additional 74 shares during the period. Bridge City Capital LLC raised its holdings in Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock valued at $1,361,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after acquiring an additional 81 shares during the period. Hunter Perkins Capital Management LLC lifted its position in shares of Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock worth $403,000 after acquiring an additional 90 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Onto Innovation by 9.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock worth $191,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Up 1.5%

NYSE ONTO traded up $1.36 on Thursday, hitting $94.98. 1,624,513 shares of the company were exchanged, compared to its average volume of 931,817. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The company has a market cap of $4.64 billion, a P/E ratio of 23.39, a P/E/G ratio of 0.89 and a beta of 1.55. The firm has a 50 day moving average of $113.34 and a two-hundred day moving average of $151.05.

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, beating analysts' consensus estimates of $1.47 by $0.04. The firm 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 business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. Research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ONTO. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Needham & Company LLC dropped 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. Benchmark cut their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Finally, Oppenheimer dropped their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.