SG Americas Securities LLC Has $6.73 Million Position in Onto Innovation Inc. (NYSE:ONTO)

SG Americas Securities LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 2,012.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,448 shares of the semiconductor company's stock after buying an additional 52,823 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of Onto Innovation worth $6,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ONTO. Vanguard Group Inc. increased its holdings in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after purchasing an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. raised its position in Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after purchasing an additional 183,839 shares during the period. Franklin Resources Inc. increased its position in shares of Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after buying an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. raised its position in Onto Innovation by 33.9% in the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after acquiring an additional 356,161 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of analyst reports. Needham & Company LLC dropped their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $135.00 target price (down from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Finally, Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $167.86.

Onto Innovation Trading Down 5.1%

NYSE ONTO traded down $5.09 during trading hours on Friday, reaching $94.91. The company had a trading volume of 655,249 shares, compared to its average volume of 955,762. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The stock has a 50-day moving average of $108.32 and a 200 day moving average of $146.36. The stock has a market capitalization of $4.64 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

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