Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Axa S.A.

AXA S.A. lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,187 shares of the semiconductor company's stock after selling 2,114 shares during the quarter. AXA S.A. owned 0.05% of Onto Innovation worth $4,365,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ONTO. StockNews.com cut Onto Innovation from a "hold" rating to a "sell" rating in a research report on Friday. Jefferies Financial Group decreased their target price on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Stifel Nicolaus lowered their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $135.00 price target (down from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Finally, Needham & Company LLC reduced their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $177.14.

Onto Innovation Trading Up 4.6%

Shares of Onto Innovation stock traded up $4.33 on Tuesday, hitting $97.82. The stock had a trading volume of 1,613,784 shares, compared to its average volume of 867,917. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $238.93. The company's 50 day moving average price is $123.17 and its 200 day moving average price is $158.71.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. The company 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 firm's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. Analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal 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.