Polar Asset Management Partners Inc. Has $7.70 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Polar Asset Management Partners Inc. raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 20.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 46,200 shares of the semiconductor company’s stock after acquiring an additional 7,800 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Onto Innovation were worth $7,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at approximately $26,000. Mather Group LLC. increased its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the period. Johnson Financial Group Inc. acquired a new position in Onto Innovation in the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new position in Onto Innovation in the 4th quarter valued at approximately $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Onto Innovation in the 4th quarter valued at approximately $47,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Down 5.7%

NYSE:ONTO opened at $98.13 on Friday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 0.89 and a beta of 1.55. The firm has a fifty day simple moving average of $121.37 and a two-hundred day simple moving average of $157.20. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The business 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% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. Equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the subject of several recent research reports. Benchmark decreased their price target on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. StockNews.com cut shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC decreased their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.14.

Onto Innovation 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.