Banque Cantonale Vaudoise Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Banque Cantonale Vaudoise acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 235 shares of the semiconductor company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Onto Innovation by 79.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 108 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Onto Innovation by 3,700.0% during the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 259 shares during the period. Johnson Financial Group Inc. purchased a new position in Onto Innovation during the 4th quarter valued at about $38,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Onto Innovation during the 4th quarter valued at about $47,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of ONTO opened at $97.14 on Tuesday. The stock has a 50-day simple moving average of $98.23 and a 200-day simple moving average of $125.88. The stock has a market capitalization of $4.74 billion, a PE ratio of 21.98, a PEG ratio of 0.61 and a beta of 1.44. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 14.85% and a net margin of 21.36%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. Analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ONTO shares. 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 target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday, May 9th. Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Oppenheimer lowered their target price 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, Stifel Nicolaus lowered their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

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.