Price T Rowe Associates Inc. MD Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Price T Rowe Associates Inc. MD reduced its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 7.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 523,674 shares of the semiconductor company's stock after selling 40,338 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.06% of Onto Innovation worth $87,281,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock worth $2,680,000 after acquiring an additional 225 shares during the period. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 228,800 shares during the period. Barclays PLC raised its stake 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 in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of 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 period. Finally, Argent Capital Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $437,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

NYSE:ONTO traded up $6.16 on Friday, reaching $126.89. The stock had a trading volume of 1,167,107 shares, compared to its average volume of 807,187. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 12-month low of $98.21 and a 12-month high of $238.93. The firm's fifty day moving average is $126.68 and its two-hundred day moving average is $162.90.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) 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, research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ONTO. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Benchmark restated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer decreased their price target 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. Finally, Stifel Nicolaus dropped 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.13.

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.