Pacer Advisors Inc. Has $387,000 Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• Pacer Advisors Inc. reduced its holdings in Onto Innovation Inc. by 85.3% during the first quarter, ending with 3,189 shares valued at $387,000.
• Institutional investors now own 98.35% of Onto Innovation's stock, with several firms acquiring new positions or increasing their holdings in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Onto Innovation, with target prices ranging from $110 to $190 after various upgrades and downgrades.

Pacer Advisors Inc. lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 85.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,189 shares of the semiconductor company's stock after selling 18,483 shares during the period. Pacer Advisors Inc.'s holdings in Onto Innovation were worth $387,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Oak Thistle LLC acquired a new position in Onto Innovation during the 1st quarter valued at about $1,540,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Onto Innovation during the 1st quarter valued at about $2,815,000. Y Intercept Hong Kong Ltd bought a new position in shares of Onto Innovation in the first quarter worth $4,108,000. Peterson Wealth Services increased its holdings in shares of Onto Innovation by 2.2% during the first quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock valued at $556,000 after purchasing an additional 98 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Onto Innovation by 29.2% in the first quarter. Lindbrook Capital LLC now owns 1,508 shares of the semiconductor company's stock worth $183,000 after purchasing an additional 341 shares during the period. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ONTO shares. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Benchmark dropped their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Stifel Nicolaus lowered their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC cut their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $0.48 during trading on Friday, hitting $94.27. The company had a trading volume of 1,402,756 shares, compared to its average volume of 972,521. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42. The business's 50-day moving average is $98.12 and its 200 day moving average is $127.85. The company has a market cap of $4.60 billion, a P/E ratio of 21.33, a PEG ratio of 0.61 and a beta of 1.44.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same period in the prior year, the business posted $1.18 earnings per share. Onto Innovation's revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.