SG Capital Management LLC Invests $3.91 Million in Onto Innovation Inc. (NYSE:ONTO)

SG Capital Management LLC purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 23,473 shares of the semiconductor company’s stock, valued at approximately $3,912,000.

A number of other institutional investors have also recently bought and sold shares of ONTO. Barclays PLC grew its holdings in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares during the period. JPMorgan Chase & Co. lifted its holdings in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after acquiring an additional 228,800 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Onto Innovation by 8.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 159,346 shares of the semiconductor company’s stock valued at $26,558,000 after acquiring an additional 12,798 shares during the period. Argent Capital Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth about $437,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Onto Innovation by 22.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company’s stock valued at $1,175,000 after purchasing an additional 1,276 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. StockNews.com cut Onto Innovation from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Jefferies Financial Group cut their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Oppenheimer decreased their price objective on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, Benchmark reduced their price target on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. One equities research 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’s stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $177.14.

Onto Innovation Stock Down 5.7%

ONTO stock opened at $98.13 on Friday. The business has a 50 day moving average price of $121.37 and a two-hundred day moving average price of $157.20. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.