Value Aligned Research Advisors LLC Has $30.06 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Value Aligned Research Advisors LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,351 shares of the semiconductor company's stock after selling 62,676 shares during the period. Onto Innovation comprises about 7.9% of Value Aligned Research Advisors LLC's portfolio, making the stock its 4th largest position. Value Aligned Research Advisors LLC owned about 0.37% of Onto Innovation worth $30,059,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after purchasing an additional 74 shares during the last quarter. Bridge City Capital LLC raised its stake in shares of Onto Innovation by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after purchasing an additional 78 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after buying an additional 81 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its holdings in shares of Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock worth $403,000 after buying an additional 90 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock valued at $191,000 after buying an additional 100 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Up 0.2%

NYSE ONTO opened at $94.79 on Friday. The firm has a market cap of $4.63 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. The company's 50 day moving average is $117.70 and its 200-day moving average is $153.88. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $238.93.

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

Analyst Upgrades and Downgrades

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

Onto Innovation Company 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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