Comerica Bank Acquires 16,933 Shares of Onto Innovation Inc. (NYSE:ONTO)

Comerica Bank lifted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 97.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,239 shares of the semiconductor company's stock after buying an additional 16,933 shares during the quarter. Comerica Bank owned about 0.07% of Onto Innovation worth $5,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONTO. Commonwealth Equity Services LLC lifted its holdings in Onto Innovation by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after purchasing an additional 225 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. Barclays PLC boosted its holdings in shares of Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares during the period. Fort Washington Investment Advisors Inc. OH grew 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 during the last quarter. Finally, Argent Capital Management LLC bought a new position in Onto Innovation in the 4th quarter valued at about $437,000. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer lowered their target price on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Benchmark restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus cut their price target 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus target price of $203.75.

Onto Innovation Price Performance

NYSE:ONTO traded up $1.71 during trading hours on Thursday, hitting $126.90. The company's stock had a trading volume of 993,678 shares, compared to its average volume of 811,409. Onto Innovation Inc. has a twelve month low of $98.21 and a twelve month high of $238.93. The stock has a fifty day simple moving average of $125.22 and a 200-day simple moving average of $161.46. The company has a market capitalization of $6.20 billion, a P/E ratio of 31.26, a PEG ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued 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. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business's revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 earnings per share. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal 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.