Hsbc Holdings PLC Has $2.03 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Hsbc Holdings PLC increased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 334.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,103 shares of the semiconductor company's stock after acquiring an additional 9,319 shares during the period. Hsbc Holdings PLC's holdings in Onto Innovation were worth $2,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Onto Innovation in the 4th quarter worth $87,987,000. Artisan Partners Limited Partnership lifted its holdings in Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after acquiring an additional 444,860 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Onto Innovation by 72.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock valued at $145,045,000 after purchasing an additional 364,853 shares in the last quarter. Invesco Ltd. grew its stake in shares of Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock worth $234,344,000 after purchasing an additional 356,161 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group cut their price target on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Needham & Company LLC reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Oppenheimer decreased their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $203.75.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $1.70 during midday trading on Monday, reaching $125.41. 342,270 shares of the company's stock traded hands, compared to its average volume of 805,413. Onto Innovation Inc. has a 52 week low of $98.21 and a 52 week high of $238.93. The company's 50 day simple moving average is $126.68 and its 200 day simple moving average is $162.58. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.