Assenagon Asset Management S.A. lowered its stake in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 31.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,303 shares of the semiconductor company’s stock after selling 4,835 shares during the period. Assenagon Asset Management S.A.’s holdings in Onto Innovation were worth $895,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tributary Capital Management LLC grew its stake in Onto Innovation by 5.0% in the 1st quarter. Tributary Capital Management LLC now owns 254,371 shares of the semiconductor company’s stock valued at $22,102,000 after buying an additional 12,124 shares during the last quarter. Mastrapasqua Asset Management Inc. bought a new stake in Onto Innovation in the 1st quarter valued at about $2,050,000. Virginia Retirement Systems ET AL bought a new stake in Onto Innovation in the 1st quarter valued at about $817,000. CWM LLC boosted its holdings in Onto Innovation by 186.1% in the 1st quarter. CWM LLC now owns 309 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 201 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in Onto Innovation by 0.4% in the 1st quarter. Congress Asset Management Co. MA now owns 321,645 shares of the semiconductor company’s stock valued at $27,948,000 after purchasing an additional 1,386 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.
Analysts Set New Price Targets
ONTO has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Onto Innovation in a report on Thursday, March 31st. They issued a “buy” rating for the company. Needham & Company LLC cut their price objective on shares of Onto Innovation from $115.00 to $100.00 in a report on Wednesday, May 4th. Finally, B. Riley cut their price target on shares of Onto Innovation from $115.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, June 15th.
Onto Innovation Trading Up 4.4 %
Shares of Onto Innovation stock opened at $70.87 on Friday. The company has a 50 day moving average of $72.23 and a 200-day moving average of $80.54. Onto Innovation Inc. has a 1-year low of $59.95 and a 1-year high of $106.09. The company has a market cap of $3.51 billion, a PE ratio of 20.54 and a beta of 1.29.
Onto Innovation (NYSE:ONTO – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15. The company had revenue of $241.35 million during the quarter, compared to the consensus estimate of $232.00 million. Onto Innovation had a net margin of 19.93% and a return on equity of 15.81%. The firm’s quarterly revenue was up 42.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 EPS. Research analysts forecast that Onto Innovation Inc. will post 5.16 earnings per share for the current year.
Onto Innovation Company Profile
Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
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