Millennium Management LLC grew its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,323 shares of the semiconductor company's stock after buying an additional 39,771 shares during the quarter. Millennium Management LLC owned 0.31% of Onto Innovation worth $25,388,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ONTO. Barclays PLC lifted its holdings in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after buying an additional 201,640 shares during the period. JPMorgan Chase & Co. raised its holdings in Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after purchasing an additional 228,800 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Onto Innovation by 22.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company's stock worth $1,175,000 after purchasing an additional 1,276 shares during the period. HB Wealth Management LLC acquired a new position in Onto Innovation in the 4th quarter worth about $217,000. Finally, UMB Bank n.a. raised its holdings in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Oppenheimer reduced their price target 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 reduced their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group reduced their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. Needham & Company LLC reduced their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Benchmark cut their price objective on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.14.
View Our Latest Analysis on ONTO
Onto Innovation Price Performance
ONTO stock opened at $100.48 on Tuesday. The business has a 50 day simple moving average of $120.19 and a 200-day simple moving average of $155.23. The firm has a market capitalization of $4.91 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. 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 posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business's revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.
Onto Innovation Company 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
Want to see what other hedge funds are holding ONTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Onto Innovation Inc. (NYSE:ONTO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Onto Innovation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Onto Innovation wasn't on the list.
While Onto Innovation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
