Robeco Schweiz AG Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Robeco Schweiz AG decreased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,910 shares of the semiconductor company's stock after selling 30,950 shares during the quarter. Robeco Schweiz AG owned about 0.27% of Onto Innovation worth $16,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Onto Innovation by 177.6% during 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 during the last quarter. Johnson Financial Group Inc. bought a new stake in Onto Innovation during the 4th quarter valued at $38,000. Aster Capital Management DIFC Ltd bought a new stake in Onto Innovation during the 4th quarter valued at $47,000. Versant Capital Management Inc raised its position in Onto Innovation by 165.0% during the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 386 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in Onto Innovation by 1,588.0% during the 1st quarter. Rakuten Securities Inc. now owns 844 shares of the semiconductor company's stock valued at $102,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ONTO. Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Oppenheimer reduced their price target on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Needham & Company LLC reduced their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Benchmark reduced their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.67.

Onto Innovation Stock Performance

Onto Innovation stock opened at $102.93 on Friday. The business's 50-day simple moving average is $100.26 and its two-hundred day simple moving average is $136.92. The company has a market cap of $5.03 billion, a PE ratio of 23.29, a PEG ratio of 0.67 and a beta of 1.45. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93.

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

Onto Innovation 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.

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