23,473 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by SG Capital Management LLC

SG Capital Management LLC purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,473 shares of the semiconductor company’s stock, valued at approximately $3,912,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC increased its stake in 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 acquiring an additional 201,640 shares during the period. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 12.9% during the third 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in Onto Innovation by 8.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 159,346 shares of the semiconductor company’s stock worth $26,558,000 after buying an additional 12,798 shares in the last quarter. Argent Capital Management LLC acquired a new position in shares of Onto Innovation in the 4th quarter valued at $437,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Onto Innovation by 22.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company’s stock worth $1,175,000 after acquiring an additional 1,276 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

NYSE:ONTO opened at $98.13 on Friday. The stock’s fifty day moving average price is $121.37 and its two-hundred day moving average price is $157.20. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 24.17, 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.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The firm had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period last year, the company earned $1.18 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ONTO shares. Needham & Company LLC lowered their price target on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Oppenheimer dropped their target price 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. Benchmark decreased 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 note on Friday, May 9th. Cantor Fitzgerald restated a “neutral” rating and set a $135.00 price target (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Finally, Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.14.

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.