Oppenheimer & Co. Inc. Has $706,000 Holdings in Onto Innovation Inc. $ONTO

Key Points

• Oppenheimer & Co. cut its stake in Onto Innovation by 57.4%, selling 6,018 shares and leaving it with 4,475 shares valued at about $706,000 at the end of the quarter.
• Onto reported quarterly EPS of $1.42 (beat by $0.04) and revenue of $291.95M (essentially in line), with revenue up 9.5% year‑over‑year and a net margin of 10.32%.
• The stock is trading down recently (−6.7%), has a market cap of $13.64B and a high P/E (~128), while analysts maintain a consensus "Buy" rating with an average target of $310.63 and several firms raising targets.

Oppenheimer & Co. Inc. lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,475 shares of the semiconductor company's stock after selling 6,018 shares during the period. Oppenheimer & Co. Inc.'s holdings in Onto Innovation were worth $706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its position in shares of Onto Innovation by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Onto Innovation during the 3rd quarter worth approximately $37,000. Danske Bank A S acquired a new position in shares of Onto Innovation during the 3rd quarter worth approximately $39,000. Farther Finance Advisors LLC grew its position in shares of Onto Innovation by 76.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 139 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Onto Innovation during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Down 6.7%

NYSE ONTO opened at $274.27 on Friday. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 128.16, a P/E/G ratio of 1.44 and a beta of 1.70. The firm's 50 day simple moving average is $234.97 and its 200 day simple moving average is $192.82. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $316.00.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. On average, equities research analysts forecast that Onto Innovation Inc. will post 6.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of analyst reports. Needham & Company LLC increased their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday. Cantor Fitzgerald increased their target price on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, April 6th. Weiss Ratings upgraded shares of Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Oppenheimer set a $370.00 target price on shares of Onto Innovation in a research report on Wednesday. Finally, Evercore reiterated an "outperform" rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $310.63.

About Onto Innovation

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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