Emerald Advisers LLC cut its position in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 3.4% in the first quarter, HoldingsChannel.com reports. The firm owned 118,423 shares of the semiconductor company’s stock after selling 4,190 shares during the period. Emerald Advisers LLC’s holdings in Onto Innovation were worth $24,285,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Onto Innovation by 20.6% in the 4th quarter. Parallel Advisors LLC now owns 339 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 58 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Onto Innovation by 4.9% during the 1st quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 64 shares in the last quarter. Root Financial Partners LLC lifted its position in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Onto Innovation by 8.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company’s stock valued at $186,000 after acquiring an additional 92 shares during the last quarter. Finally, Millstone Evans Group LLC boosted its stake in Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 99 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on ONTO shares. Evercore reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Morgan Stanley began coverage on Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price objective for the company. Stifel Nicolaus set a $350.00 target price on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, Needham & Company LLC upped their target price on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $339.60.
Onto Innovation Stock Down 5.3%
Shares of Onto Innovation stock opened at $304.44 on Tuesday. The company has a 50 day moving average price of $294.94 and a 200 day moving average price of $243.57. The firm has a market capitalization of $15.14 billion, a P/E ratio of 142.26, a PEG ratio of 1.31 and a beta of 1.55. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46.
Onto Innovation (NYSE:ONTO – Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the firm earned $1.51 EPS. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts anticipate that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.
Onto Innovation Company Profile
Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.
Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.
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