Wellington Management Group LLP trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 36.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 473,254 shares of the semiconductor company's stock after selling 273,710 shares during the period. Wellington Management Group LLP owned 0.96% of Onto Innovation worth $98,229,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ONTO. State Street Corp raised its position in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock worth $305,107,000 after purchasing an additional 39,367 shares during the last quarter. Systematic Financial Management LP increased its stake in Onto Innovation by 2.2% during the 3rd quarter. Systematic Financial Management LP now owns 153,547 shares of the semiconductor company's stock worth $31,870,000 after buying an additional 3,369 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Onto Innovation by 55.8% in the third quarter. Quantinno Capital Management LP now owns 2,766 shares of the semiconductor company's stock worth $574,000 after acquiring an additional 991 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Onto Innovation by 67.7% during the third quarter. Polar Asset Management Partners Inc. now owns 38,400 shares of the semiconductor company's stock worth $7,970,000 after purchasing an additional 15,500 shares in the last quarter. Finally, Morse Asset Management Inc raised its stake in Onto Innovation by 6.9% in the 3rd quarter. Morse Asset Management Inc now owns 16,824 shares of the semiconductor company's stock valued at $3,492,000 after purchasing an additional 1,085 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.
A number of equities research analysts have recently commented on the stock. Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average target price of $254.29.
Read Our Latest Report on Onto Innovation
Shares of NYSE ONTO opened at $168.99 on Tuesday. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The business's 50 day moving average is $186.36 and its two-hundred day moving average is $200.23. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 45.80, a PEG ratio of 1.08 and a beta of 1.30.
Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. Onto Innovation's revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.
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.
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