80,045 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,045 shares of the semiconductor company's stock, valued at approximately $13,341,000. Point72 Asset Management L.P. owned approximately 0.16% of Onto Innovation as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Polar Asset Management Partners Inc. lifted its position in shares of Onto Innovation by 20.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 46,200 shares of the semiconductor company's stock valued at $7,700,000 after purchasing an additional 7,800 shares in the last quarter. Port Capital LLC lifted its position in shares of Onto Innovation by 1.2% during the fourth quarter. Port Capital LLC now owns 216,646 shares of the semiconductor company's stock valued at $36,108,000 after purchasing an additional 2,475 shares in the last quarter. Man Group plc lifted its position in shares of Onto Innovation by 245.8% during the fourth quarter. Man Group plc now owns 114,102 shares of the semiconductor company's stock valued at $19,017,000 after purchasing an additional 81,106 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Onto Innovation by 3.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,584 shares of the semiconductor company's stock valued at $1,806,000 after purchasing an additional 351 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Onto Innovation during the fourth quarter valued at about $1,092,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

NYSE:ONTO traded down $2.85 during midday trading on Friday, reaching $91.98. 1,482,266 shares of the stock traded hands, compared to its average volume of 918,559. The company has a fifty day moving average of $116.84 and a 200 day moving average of $153.31. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The stock has a market capitalization of $4.49 billion, a P/E ratio of 22.66, a PEG ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the business earned $1.18 EPS. The company's revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ONTO. Needham & Company LLC reduced their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Oppenheimer cut their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Benchmark cut their price target on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.86.

Onto Innovation Company Profile

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.