Kornitzer Capital Management Inc. KS Purchases Shares of 35,645 Onto Innovation Inc. (NYSE:ONTO)

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,645 shares of the semiconductor company's stock, valued at approximately $4,325,000. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Onto Innovation as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in Onto Innovation by 3,700.0% during the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock valued at $32,000 after buying an additional 259 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Onto Innovation by 48.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock valued at $156,700,000 after buying an additional 421,165 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Onto Innovation by 10.7% during the first quarter. TimesSquare Capital Management LLC now owns 170,825 shares of the semiconductor company's stock valued at $20,728,000 after buying an additional 16,449 shares in the last quarter. Edgestream Partners L.P. raised its stake in Onto Innovation by 87.1% during the first quarter. Edgestream Partners L.P. now owns 48,604 shares of the semiconductor company's stock valued at $5,898,000 after buying an additional 22,626 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Onto Innovation by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the semiconductor company's stock valued at $1,674,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Ratings Changes

A number of 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 on the stock in a research report on Tuesday, April 15th. Oppenheimer dropped their price target 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. Cantor Fitzgerald dropped their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Needham & Company LLC dropped their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $141.67.

Onto Innovation Price Performance

ONTO stock traded down $0.87 on Friday, reaching $97.83. The company's stock had a trading volume of 252,044 shares, compared to its average volume of 979,941. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42. The company has a market capitalization of $4.78 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. The firm has a fifty day moving average of $97.69 and a two-hundred day moving average of $134.44.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data 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 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the company 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 expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Onto Innovation Profile

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.