Voya Investment Management LLC Buys 111,315 Shares of Onto Innovation Inc. (NYSE:ONTO)

Voya Investment Management LLC boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 118.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,025 shares of the semiconductor company’s stock after purchasing an additional 111,315 shares during the quarter. Voya Investment Management LLC owned about 0.42% of Onto Innovation worth $34,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after buying an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the last quarter. Franklin Resources Inc. raised its position in Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after purchasing an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock worth $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock worth $234,344,000 after purchasing an additional 356,161 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 0.2 %

Shares of NYSE:ONTO opened at $125.50 on Friday. The company has a 50-day moving average price of $130.48 and a 200-day moving average price of $166.30. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, research analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus lowered their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.13.

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.