Natixis Advisors LLC Has $6.96 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• Natixis Advisors LLC significantly increased its holdings in Onto Innovation by 132.1%, owning 57,329 shares worth $6.96 million as of the latest SEC filing.
• Onto Innovation's stock recently traded down 2.6%, reaching $94.68, with an overall market capitalization of $4.62 billion.
• Equities analysts have mixed opinions on Onto Innovation, with target prices adjusted mainly downwards, yet the stock maintains an average rating of "Moderate Buy" among analysts.

Natixis Advisors LLC grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 132.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,329 shares of the semiconductor company's stock after buying an additional 32,633 shares during the quarter. Natixis Advisors LLC owned about 0.12% of Onto Innovation worth $6,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new stake in Onto Innovation during the first quarter worth approximately $217,000. GAMMA Investing LLC increased its position in shares of Onto Innovation by 75.0% during the 1st quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company's stock valued at $130,000 after purchasing an additional 458 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Onto Innovation in the 1st quarter worth $420,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Onto Innovation by 16.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company's stock valued at $875,000 after buying an additional 1,013 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Onto Innovation by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company's stock valued at $701,000 after buying an additional 150 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ONTO shares. Cantor Fitzgerald dropped their price target 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. 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 report on Friday, May 9th. Stifel Nicolaus cut their price objective 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. Finally, B. Riley lowered their price objective on Onto Innovation from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Onto Innovation Stock Performance

Onto Innovation stock traded up $11.14 during trading hours on Friday, hitting $103.82. 2,351,135 shares of the stock were exchanged, compared to its average volume of 1,245,528. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $228.42. The business's 50-day moving average is $98.08 and its two-hundred day moving average is $124.56. The stock has a market capitalization of $5.07 billion, a P/E ratio of 23.42, a P/E/G ratio of 0.58 and a beta of 1.44.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.02). The company had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.