Assenagon Asset Management S.A. Has $9.19 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Assenagon Asset Management S.A. reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,751 shares of the semiconductor company's stock after selling 83,595 shares during the period. Assenagon Asset Management S.A. owned approximately 0.15% of Onto Innovation worth $9,192,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Bridge City Capital LLC increased its position in Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc increased its position in shares of Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock valued at $256,000 after purchasing an additional 81 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock valued at $191,000 after purchasing an additional 100 shares during the period. Assetmark Inc. increased its position in shares of Onto Innovation by 0.3% during the fourth quarter. Assetmark Inc. now owns 40,882 shares of the semiconductor company's stock valued at $6,814,000 after purchasing an additional 109 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in shares of Onto Innovation by 8.7% during the first quarter. Central Pacific Bank Trust Division now owns 1,380 shares of the semiconductor company's stock valued at $167,000 after purchasing an additional 110 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Onto Innovation stock traded down $5.22 on Friday, reaching $94.78. The company's stock had a trading volume of 1,370,088 shares, compared to its average volume of 961,032. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.89 and a beta of 1.46. The business's fifty day moving average price is $108.12 and its 200 day moving average price is $145.89. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93.

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

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of research reports. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Oppenheimer lowered their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Benchmark lowered their price objective on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC decreased their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Stifel Nicolaus decreased their price target 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $167.86.

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.