Polar Asset Management Partners Inc. Has $7.70 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Polar Asset Management Partners Inc. increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,200 shares of the semiconductor company's stock after acquiring an additional 7,800 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 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 have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after acquiring an additional 76,233 shares during the period. JPMorgan Chase & Co. increased its stake in Onto Innovation by 9.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after acquiring an additional 183,839 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after acquiring an additional 444,860 shares during the period. Finally, Invesco Ltd. increased its position in shares of Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after acquiring an additional 356,161 shares during the period. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONTO. Stifel Nicolaus lowered 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 for the company in a report on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Needham & Company LLC decreased their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and an average target price of $167.86.

Onto Innovation Stock Down 3.2%

Shares of NYSE ONTO traded down $3.05 during trading on Friday, reaching $91.99. 1,558,209 shares of the stock were exchanged, compared to its average volume of 937,175. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93. The business's 50-day moving average price is $112.41 and its 200 day moving average price is $150.38. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. The firm had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The firm's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $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.

Onto Innovation Company 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.