Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,653 shares of the semiconductor company's stock after buying an additional 22,198 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.33% of Onto Innovation worth $19,736,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Onto Innovation by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after buying an additional 225 shares in the last quarter. Truist Financial Corp boosted its position in shares of Onto Innovation by 35.6% in the 4th quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company's stock worth $268,000 after buying an additional 421 shares in the last quarter. LPL Financial LLC grew its position in shares of Onto Innovation by 35.3% in the fourth quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company's stock valued at $5,945,000 after purchasing an additional 9,310 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Onto Innovation by 51.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company's stock valued at $92,000 after buying an additional 185 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after acquiring an additional 76,233 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Down 5.2%

NYSE ONTO traded down $5.22 during trading hours on Friday, reaching $94.78. The company's stock had a trading volume of 1,370,088 shares, compared to its average volume of 961,031. The stock has a market cap of $4.63 billion, a PE ratio of 23.34, a PEG ratio of 0.89 and a beta of 1.46. The business has a 50-day simple moving average of $108.32 and a 200 day simple moving average of $146.36. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ONTO. Needham & Company LLC decreased 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 report on Friday, May 9th. Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Benchmark reduced 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 report on Friday, May 9th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Stifel Nicolaus dropped their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.