Polar Asset Management Partners Inc. Purchases 7,800 Shares of Onto Innovation Inc. (NYSE:ONTO)

Polar Asset Management Partners Inc. raised its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,200 shares of the semiconductor company's stock after acquiring an additional 7,800 shares during the period. Polar Asset Management Partners Inc. owned 0.09% of Onto Innovation worth $7,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. GTS Securities LLC raised its position in Onto Innovation by 3.9% in the fourth quarter. GTS Securities LLC now owns 6,806 shares of the semiconductor company's stock worth $1,134,000 after acquiring an additional 253 shares in the last quarter. Palisades Investment Partners LLC lifted its stake in shares of Onto Innovation by 9.5% during the fourth quarter. Palisades Investment Partners LLC now owns 20,412 shares of the semiconductor company's stock valued at $3,402,000 after buying an additional 1,771 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Onto Innovation by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 150,084 shares of the semiconductor company's stock worth $25,015,000 after purchasing an additional 15,961 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Onto Innovation in the 4th quarter valued at about $3,104,000. Finally, iSAM Funds UK Ltd purchased a new stake in Onto Innovation in the fourth quarter valued at approximately $328,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Price Performance

Onto Innovation stock traded down $3.05 during midday trading on Friday, hitting $91.99. The company's stock had a trading volume of 1,558,103 shares, compared to its average volume of 934,418. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 0.89 and a beta of 1.55. The company has a 50-day moving average price of $113.34 and a two-hundred day moving average price of $151.05. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same quarter last year, the business posted $1.18 earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. Benchmark cut their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Oppenheimer lowered their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Stifel Nicolaus cut their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.86.

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.