Mirae Asset Global Investments Co. Ltd. Purchases 5,372 Shares of Onto Innovation Inc. (NYSE:ONTO)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 70,294 shares of the semiconductor company's stock after acquiring an additional 5,372 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.14% of Onto Innovation worth $8,581,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Johnson Financial Group Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB grew its position 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 worth $29,000 after buying an additional 151 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation during the 4th quarter worth approximately $43,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Onto Innovation during the 4th quarter worth approximately $47,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Onto Innovation by 51.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company's stock worth $92,000 after buying an additional 185 shares during the period. 98.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ONTO shares. 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. Needham & Company LLC reduced their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock 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. 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 research note on Friday, May 9th. Finally, Cantor Fitzgerald cut their price objective on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Stock Down 1.4%

Shares of ONTO stock traded down $1.43 during trading on Thursday, reaching $101.97. The company's stock had a trading volume of 698,898 shares, compared to its average volume of 971,199. The business has a fifty day moving average price of $102.84 and a 200-day moving average price of $139.75. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

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. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The company's quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current 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.