Lazard Asset Management LLC Has $68.79 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Lazard Asset Management LLC grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 80.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,720 shares of the semiconductor company's stock after buying an additional 184,612 shares during the quarter. Lazard Asset Management LLC owned approximately 0.84% of Onto Innovation worth $68,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of Onto Innovation by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after acquiring an additional 225 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares during the period. Barclays PLC boosted its stake in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after buying an additional 201,640 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Onto Innovation by 40.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company's stock valued at $23,410,000 after buying an additional 40,290 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new stake in Onto Innovation in the 4th quarter valued at $437,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ONTO. Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Benchmark reduced their price objective 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. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday. Oppenheimer dropped their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Needham & Company LLC dropped their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $177.14.

Onto Innovation Stock Up 1.3%

NYSE ONTO traded up $1.25 on Friday, reaching $99.29. The company had a trading volume of 1,140,537 shares, compared to its average volume of 899,710. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93. The stock's 50 day moving average is $120.86 and its 200-day moving average is $155.76. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 24.46, 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 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The firm had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.