Massachusetts Financial Services Co. MA grew its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 48.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,291,415 shares of the semiconductor company's stock after purchasing an additional 421,165 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.64% of Onto Innovation worth $156,700,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Onto Innovation during the 4th quarter valued at $38,000. Aster Capital Management DIFC Ltd bought a new position in shares of Onto Innovation during the 4th quarter valued at $47,000. Berbice Capital Management LLC raised its holdings in shares of Onto Innovation by 33.3% during the 1st quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Onto Innovation by 165.0% during the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 386 shares in the last quarter. Institutional investors own 98.35% of the company's stock.
Onto Innovation Price Performance
NYSE ONTO opened at $98.15 on Thursday. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 0.65 and a beta of 1.45. The company's fifty day moving average is $98.25 and its two-hundred day moving average is $134.92. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $229.76.
Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The business's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $1.18 EPS. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on ONTO shares. Stifel Nicolaus cut their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Oppenheimer cut their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Benchmark dropped their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC dropped their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $141.67.
Read Our Latest Research Report on Onto Innovation
Onto Innovation 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.
Further Reading
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