GSA Capital Partners LLP Purchases New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• GSA Capital Partners LLP acquired 6,744 shares of Onto Innovation Inc., valued at approximately $818,000, as reported in its Form 13F filing.
• Onto Innovation's shares recently traded at $94.27, with a 1-year price range between $85.88 and $228.42, and a market capitalization of $4.60 billion.
• Research analysts have provided varied ratings on Onto Innovation, with a consensus rating of "Moderate Buy" and a price target averaging $141.67.

GSA Capital Partners LLP purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,744 shares of the semiconductor company's stock, valued at approximately $818,000.

Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in shares of Onto Innovation during the 4th quarter worth about $38,000. MassMutual Private Wealth & Trust FSB raised its position in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 108 shares during the last quarter. Larson Financial Group LLC grew its position in Onto Innovation by 3,700.0% in the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 259 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Onto Innovation during the 4th quarter worth $47,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of NYSE ONTO traded down $0.48 during trading hours on Friday, hitting $94.27. 1,402,756 shares of the company's stock were exchanged, compared to its average volume of 972,521. The company's 50-day moving average price is $98.12 and its 200-day moving average price is $127.85. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.61 and a beta of 1.44.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the previous year, the company earned $1.18 earnings per share. The company's quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ONTO shares. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Stifel Nicolaus reduced 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. Cantor Fitzgerald lowered their price objective on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC reduced 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. Finally, Oppenheimer lowered their price target on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.67.

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.