Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 14.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,830 shares of the semiconductor company's stock after acquiring an additional 15,437 shares during the period. Victory Capital Management Inc. owned 0.25% of Onto Innovation worth $14,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ONTO. MassMutual Private Wealth & Trust FSB grew its stake in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 151 shares in the last quarter. Larson Financial Group LLC grew its stake in Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Onto Innovation during the fourth quarter valued at approximately $38,000. Aster Capital Management DIFC Ltd bought a new position in shares of Onto Innovation during the fourth quarter valued at approximately $47,000. Finally, Berbice Capital Management LLC boosted its stake in Onto Innovation by 33.3% in the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company's stock valued at $49,000 after acquiring an additional 100 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded up $1.18 during trading on Friday, hitting $99.43. 998,598 shares of the company's stock were exchanged, compared to its average volume of 962,809. The business has a 50-day simple moving average of $97.83 and a 200-day simple moving average of $131.11. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.64 and a beta of 1.45.

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 (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 during the quarter, compared to analysts' expectations of $267.03 million. During the same quarter last year, the company posted $1.18 earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the subject of several recent analyst reports. Cantor Fitzgerald lowered their target price on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Benchmark decreased their price target on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Stifel Nicolaus decreased their price target on shares of 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 set a $110.00 price target on shares of Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.67.

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.