Systematic Financial Management LP Purchases 5,678 Shares of Onto Innovation Inc. (NYSE:ONTO)

Systematic Financial Management LP grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,225 shares of the semiconductor company's stock after buying an additional 5,678 shares during the quarter. Systematic Financial Management LP owned approximately 0.32% of Onto Innovation worth $26,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after purchasing an additional 201,640 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Onto Innovation by 8.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 159,346 shares of the semiconductor company's stock valued at $26,558,000 after acquiring an additional 12,798 shares during the last quarter. Argent Capital Management LLC bought a new position in Onto Innovation in the fourth quarter valued at approximately $437,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Onto Innovation by 22.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company's stock valued at $1,175,000 after acquiring an additional 1,276 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO opened at $99.29 on Friday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93. The firm has a 50 day moving average price of $120.86 and a 200-day moving average price of $156.41.

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, topping 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 firm had revenue of $267.00 million for the quarter, compared to analysts' expectations of $267.03 million. During the same quarter in the prior year, the business earned $1.18 EPS. The business's quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ONTO shares. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC cut their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Benchmark cut their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Oppenheimer cut their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.14.

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.

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