Janney Montgomery Scott LLC lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,774 shares of the semiconductor company's stock after selling 3,838 shares during the period. Janney Montgomery Scott LLC's holdings in Onto Innovation were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after purchasing an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after purchasing an additional 183,839 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.2% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after purchasing an additional 444,860 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Onto Innovation by 33.9% in the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after purchasing an additional 356,161 shares in the last quarter. Institutional investors own 98.35% of the company's stock.
Analyst Upgrades and Downgrades
ONTO has been the subject of a number of recent research reports. Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Oppenheimer dropped their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Benchmark dropped their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a "hold" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $141.67.
Read Our Latest Report on ONTO
Onto Innovation Price Performance
Shares of NYSE:ONTO traded up $0.25 on Thursday, hitting $102.93. 785,808 shares of the company's stock were exchanged, compared to its average volume of 980,888. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. The business's 50 day simple moving average is $100.26 and its two-hundred day simple moving average is $136.92.
Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same period last year, the company earned $1.18 earnings per share. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.
Onto Innovation Company Profile
(
Free Report)
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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