Gotham Asset Management LLC Reduces Stake in Onto Innovation Inc. (NYSE:ONTO)

Gotham Asset Management LLC trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 39.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,896 shares of the semiconductor company's stock after selling 10,239 shares during the quarter. Gotham Asset Management LLC's holdings in Onto Innovation were worth $2,649,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Onto Innovation during the fourth quarter worth $26,000. Mather Group LLC. boosted its stake in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after buying an additional 111 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Onto Innovation during the fourth quarter worth $38,000. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation in the 4th quarter valued at $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Onto Innovation in the 4th quarter valued at $47,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ONTO shares. Benchmark decreased their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $177.14.

Onto Innovation Stock Up 1.1%

NYSE ONTO traded up $1.08 during trading hours on Monday, hitting $100.48. 1,359,441 shares of the company were exchanged, compared to its average volume of 901,549. The company has a 50 day moving average of $120.86 and a two-hundred day moving average of $155.76. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $238.93. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share 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 company 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 business earned $1.18 EPS. Onto Innovation's revenue was up 16.5% on a year-over-year basis. On average, equities research analysts predict 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.