XTX Topco Ltd Takes $1.42 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Key Points

• XTX Topco Ltd has invested approximately $1.42 million in Onto Innovation Inc., acquiring 11,711 shares in the 1st quarter.
• Onto Innovation reported earnings of $1.51 per share for the last quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 16.5%.
• Analysts have lowered their price targets for Onto Innovation's stock, with the current consensus rating being a "Moderate Buy" and a price target of $141.67.

XTX Topco Ltd acquired a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,711 shares of the semiconductor company's stock, valued at approximately $1,421,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Onto Innovation in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 108 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 259 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Onto Innovation in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of ONTO traded down $0.48 during trading hours on Friday, hitting $94.27. The stock had a trading volume of 1,402,756 shares, compared to its average volume of 972,521. The firm has a 50-day moving average price of $98.12 and a 200 day moving average price of $127.85. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.62 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $267.03 million. During the same period in the previous year, the business posted $1.18 EPS. The business's revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ONTO shares. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Needham & Company LLC dropped their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Oppenheimer dropped their price objective 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. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $141.67.

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.