Teza Capital Management LLC Sells 1,052 Shares of Onto Innovation Inc. (NYSE:ONTO)

Teza Capital Management LLC trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 19.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,406 shares of the semiconductor company’s stock after selling 1,052 shares during the quarter. Teza Capital Management LLC’s holdings in Onto Innovation were worth $734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised 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 buying an additional 225 shares during the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 228,800 shares in the last quarter. Barclays PLC increased its stake in Onto Innovation by 1,296.7% in 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 in the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Onto Innovation by 40.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company’s stock valued at $23,410,000 after purchasing an additional 40,290 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Onto Innovation by 35.6% in the fourth quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 421 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer lowered 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 note on Friday, May 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group lowered their target price 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. Finally, Needham & Company LLC lowered their target price on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $177.14.

Onto Innovation Stock Up 1.1%

Onto Innovation stock opened at $100.48 on Tuesday. The stock has a market capitalization of $4.91 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93. The company has a 50 day moving average of $120.19 and a 200-day moving average of $155.23.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results 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 company had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Equities analysts anticipate 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.