Sherbrooke Park Advisers LLC Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Sherbrooke Park Advisers LLC acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,614 shares of the semiconductor company’s stock, valued at approximately $936,000.

A number of other large investors have also made changes to their positions in ONTO. UMB Bank n.a. raised its holdings in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares during the period. Bridge City Capital LLC boosted its position in shares of Onto Innovation by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after purchasing an additional 78 shares during the period. CIBC Asset Management Inc increased its holdings in Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after purchasing an additional 81 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its stake in Onto Innovation by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company’s stock worth $191,000 after buying an additional 100 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a report on Friday, May 9th. Benchmark lowered their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Oppenheimer reduced their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. One investment 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. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $177.14.

Onto Innovation Stock Performance

NYSE:ONTO opened at $98.13 on Friday. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $238.93. The stock has a 50-day simple moving average of $121.37 and a 200-day simple moving average of $157.20. The stock has a market cap 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 announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Onto Innovation’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $1.18 EPS. On average, equities research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.