Amalgamated Bank Decreases Holdings in Onto Innovation Inc. (NYSE:ONTO)

Amalgamated Bank cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,779 shares of the semiconductor company’s stock after selling 921 shares during the quarter. Amalgamated Bank’s holdings in Onto Innovation were worth $2,764,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in shares of Onto Innovation during the 4th quarter valued at $38,000. 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 valued at $29,000 after purchasing an additional 151 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation during the 4th quarter valued at $43,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Onto Innovation during the 4th quarter valued at $47,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Onto Innovation by 51.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 185 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.7%

Shares of NYSE ONTO opened at $101.63 on Friday. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93. The business has a 50-day simple moving average of $101.89 and a two-hundred day simple moving average of $138.79. The company has a market cap of $4.96 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.68 and a beta of 1.45.

Onto Innovation (NYSE:ONTO) last issued its 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. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same quarter last year, the company earned $1.18 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald cut their price target on Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Benchmark cut their price target on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Finally, Jefferies Financial Group set a $110.00 price target on Onto Innovation and gave the stock a “hold” rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average 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.