Gotham Asset Management LLC Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Gotham Asset Management LLC lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 39.2% during the 4th quarter, Holdings Channel reports. The firm owned 15,896 shares of the semiconductor company’s stock after selling 10,239 shares during the quarter. Gotham Asset Management LLC’s holdings in Onto Innovation were worth $2,649,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. 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. raised its position in shares of Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after buying an additional 183,839 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after buying an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after purchasing an additional 356,161 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of ONTO stock opened at $98.13 on Friday. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $238.93. The company’s 50-day simple moving average is $121.37 and its two-hundred day simple moving average is $157.20. The company has a market capitalization of $4.79 billion, a P/E ratio of 24.17, a P/E/G ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $267.03 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. Onto Innovation’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONTO shares. Needham & Company LLC cut their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, May 9th. StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 price target (down from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Benchmark cut their price target on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Jefferies Financial Group dropped their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.