Thornburg Investment Management Inc. Buys 8,992 Shares of Onto Innovation Inc. (NYSE:ONTO)

Thornburg Investment Management Inc. increased its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,181 shares of the semiconductor company's stock after buying an additional 8,992 shares during the period. Thornburg Investment Management Inc. owned 0.08% of Onto Innovation worth $6,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Onto Innovation during the 4th quarter worth $87,987,000. Artisan Partners Limited Partnership increased its position in Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after buying an additional 444,860 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Onto Innovation by 72.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock worth $145,045,000 after buying an additional 364,853 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Onto Innovation by 33.9% during the 4th 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. Finally, Franklin Resources Inc. boosted its stake in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ONTO. Stifel Nicolaus reduced their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald reiterated 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. Benchmark dropped their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Jefferies Financial Group lowered Onto Innovation from a "buy" rating to a "hold" rating and cut their price target for the stock from $135.00 to $110.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.86.

Onto Innovation Stock Down 2.5%

Onto Innovation stock traded down $2.39 on Wednesday, hitting $94.86. The company's stock had a trading volume of 1,579,482 shares, compared to its average volume of 912,022. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93. The firm has a market cap of $4.63 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The company has a fifty day moving average price of $119.45 and a 200-day moving average price of $154.83.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results 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 return on equity of 14.24% and a net margin of 20.43%. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same quarter last year, the company earned $1.18 EPS. Onto Innovation's revenue was up 16.5% on a year-over-year basis. Analysts anticipate 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.