Man Group plc boosted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 245.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,102 shares of the semiconductor company's stock after buying an additional 81,106 shares during the period. Man Group plc owned approximately 0.23% of Onto Innovation worth $19,017,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after purchasing an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after purchasing an additional 183,839 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.2% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after acquiring an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Onto Innovation by 41.6% in the fourth 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 in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Onto Innovation by 33.9% in the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after acquiring an additional 356,161 shares in the last quarter. 98.35% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on ONTO. Jefferies Financial Group lowered Onto Innovation from a "buy" rating to a "hold" rating and reduced their target price for the company from $135.00 to $110.00 in a report on Tuesday. Benchmark dropped 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. Oppenheimer dropped their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research note 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 research note on Monday, May 5th. Finally, Needham & Company LLC dropped their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $167.86.
View Our Latest Report on ONTO
Onto Innovation Stock Down 3.2%
Shares of ONTO stock traded down $3.18 on Tuesday, reaching $97.24. The company's stock had a trading volume of 1,697,279 shares, compared to its average volume of 906,671. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $238.93. The company has a market capitalization of $4.75 billion, a P/E ratio of 23.95, a PEG ratio of 0.89 and a beta of 1.55. The stock's 50 day simple moving average is $120.19 and its 200-day simple moving average is $155.23.
Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The company's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 EPS. Research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.
About Onto Innovation
(
Free Report)
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.
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