Shelton Wealth Management LLC purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,152 shares of the semiconductor company's stock, valued at approximately $504,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in Onto Innovation by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company's stock worth $701,000 after buying an additional 150 shares during the period. Rakuten Securities Inc. increased its stake in Onto Innovation by 1,588.0% in the 1st quarter. Rakuten Securities Inc. now owns 844 shares of the semiconductor company's stock worth $102,000 after buying an additional 794 shares during the period. QRG Capital Management Inc. increased its stake in Onto Innovation by 6.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,041 shares of the semiconductor company's stock worth $248,000 after buying an additional 118 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Onto Innovation in the 1st quarter worth about $31,175,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in Onto Innovation in the 1st quarter worth about $1,524,000. Hedge funds and other institutional investors own 98.35% of the company's stock.
Onto Innovation Stock Performance
NYSE ONTO opened at $97.12 on Friday. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The company's 50-day simple moving average is $106.15 and its two-hundred day simple moving average is $144.05. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93.
Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The firm had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. During the same quarter in the previous year, the firm earned $1.18 EPS. The company's quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on ONTO shares. Stifel Nicolaus reduced their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued a "neutral" rating and set a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Benchmark cut their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $167.86.
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About Onto Innovation
(
Free Report)
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.
Further Reading
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