23,000 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,000 shares of the semiconductor company's stock, valued at approximately $3,859,000.

Several other institutional investors have also made changes to their positions in ONTO. Norges Bank acquired a new position in Onto Innovation in the 4th quarter worth approximately $87,987,000. Artisan Partners Limited Partnership lifted 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 purchasing an additional 444,860 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Onto Innovation by 72.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock worth $145,045,000 after buying an additional 364,853 shares during the period. Invesco Ltd. grew its holdings in shares of Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after buying an additional 356,161 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after buying an additional 271,470 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $1.69 during trading on Wednesday, hitting $95.56. 528,897 shares of the stock traded hands, compared to its average volume of 905,384. The stock has a market cap of $4.67 billion, a P/E ratio of 23.62, a PEG ratio of 0.89 and a beta of 1.55. The company has a fifty day moving average price of $119.45 and a two-hundred day moving average price of $154.83. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share 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 net margin of 20.43% and a return on equity of 14.24%. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ONTO shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Oppenheimer reduced their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC decreased their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group downgraded shares of Onto Innovation from a "buy" rating to a "hold" rating and cut their target price for the stock from $135.00 to $110.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $167.86.

Onto Innovation 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.