Y Intercept Hong Kong Ltd Acquires New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Y Intercept Hong Kong Ltd purchased a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,857 shares of the semiconductor company's stock, valued at approximately $4,108,000. Y Intercept Hong Kong Ltd owned 0.07% of Onto Innovation at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONTO. MassMutual Private Wealth & Trust FSB boosted its position in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Onto Innovation by 79.4% during 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 position in shares of Onto Innovation by 3,700.0% during 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. Johnson Financial Group Inc. bought a new position in shares of Onto Innovation during the 4th quarter valued at approximately $38,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Onto Innovation during the 4th quarter valued at approximately $47,000. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Benchmark lowered their target price 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. Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Stifel Nicolaus decreased their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC decreased their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Cantor Fitzgerald decreased their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Stock Performance

ONTO stock traded down $0.29 during midday trading on Friday, reaching $97.96. The company's stock had a trading volume of 254,561 shares, compared to its average volume of 1,212,913. The stock has a fifty day simple moving average of $97.82 and a two-hundred day simple moving average of $131.76. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.63 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results 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 return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. During the same quarter in the prior year, the company earned $1.18 EPS. The business's revenue was up 16.5% compared to the same quarter last year. As a group, analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.