GAMMA Investing LLC Grows Position in Onto Innovation Inc. (NYSE:ONTO)

GAMMA Investing LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 21,129.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,712 shares of the semiconductor company's stock after acquiring an additional 129,101 shares during the quarter. GAMMA Investing LLC owned about 0.26% of Onto Innovation worth $15,739,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Bridge City Capital LLC increased its position in shares of Onto Innovation by 1.0% in the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock valued at $1,361,000 after buying an additional 78 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock valued at $256,000 after buying an additional 81 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Onto Innovation by 9.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock valued at $191,000 after buying an additional 100 shares in the last quarter. Assetmark Inc. increased its position in shares of Onto Innovation by 0.3% in the fourth quarter. Assetmark Inc. now owns 40,882 shares of the semiconductor company's stock valued at $6,814,000 after buying an additional 109 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Onto Innovation by 8.7% in the first quarter. Central Pacific Bank Trust Division now owns 1,380 shares of the semiconductor company's stock valued at $167,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 1.9%

Onto Innovation stock opened at $96.09 on Friday. The stock has a market cap of $4.69 billion, a PE ratio of 23.67, a P/E/G ratio of 0.89 and a beta of 1.45. The stock has a 50-day moving average price of $109.34 and a 200 day moving average price of $148.14. 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 issued 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. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same period last year, the company earned $1.18 EPS. The firm's quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ONTO shares. Stifel Nicolaus dropped their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Benchmark dropped their price objective 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. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Finally, Needham & Company LLC dropped their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.

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