Universal Beteiligungs und Servicegesellschaft mbH Invests $2.82 Million in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Onto Innovation Inc., purchasing 23,198 shares valued at approximately $2.82 million in the first quarter.
• Onto Innovation reported a 12-month revenue increase of 16.5% year-over-year, with earnings per share (EPS) of $1.51, beating analyst estimates by $0.04.
• Several analysts have adjusted their price targets for Onto Innovation, with most recent targets ranging from $90.00 to $190.00, while maintaining an average rating of "Moderate Buy".

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,198 shares of the semiconductor company's stock, valued at approximately $2,815,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Onto Innovation during the 1st quarter valued at $4,108,000. Peterson Wealth Services grew its stake in shares of Onto Innovation by 2.2% during the first quarter. Peterson Wealth Services now owns 4,585 shares of the semiconductor company's stock worth $556,000 after purchasing an additional 98 shares during the period. Lindbrook Capital LLC increased its holdings in Onto Innovation by 29.2% in the first quarter. Lindbrook Capital LLC now owns 1,508 shares of the semiconductor company's stock valued at $183,000 after purchasing an additional 341 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Onto Innovation by 37.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 19,203 shares of the semiconductor company's stock valued at $2,330,000 after buying an additional 5,234 shares during the period. Finally, Morse Asset Management Inc increased its stake in shares of Onto Innovation by 235.0% in the 1st quarter. Morse Asset Management Inc now owns 7,069 shares of the semiconductor company's stock valued at $858,000 after acquiring an additional 4,959 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Down 0.5%

Shares of NYSE ONTO traded down $0.48 during midday trading on Friday, reaching $94.27. The company's stock had a trading volume of 1,402,736 shares, compared to its average volume of 1,220,921. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The stock has a 50 day simple moving average of $98.08 and a 200-day simple moving average of $128.60. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.67 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced 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 21.36% and a return on equity of 14.85%. The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent analyst reports. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the stock a "hold" rating in a report on Tuesday, May 20th. Benchmark decreased their price objective 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. Oppenheimer dropped their target price on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reduced their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.67.

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.