Victory Capital Management Inc. Acquires 15,437 Shares of Onto Innovation Inc. (NYSE:ONTO)

Victory Capital Management Inc. boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 14.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 120,830 shares of the semiconductor company’s stock after purchasing an additional 15,437 shares during the quarter. Victory Capital Management Inc.’s holdings in Onto Innovation were worth $14,662,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ONTO. Vanguard Group Inc. boosted its stake in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after purchasing an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. lifted its stake in Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock worth $252,530,000 after purchasing an additional 444,860 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock worth $234,344,000 after purchasing an additional 356,161 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Oppenheimer cut their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a report on Friday, May 9th. Cantor Fitzgerald lowered their target price on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.67.

Onto Innovation Trading Up 0.3%

Shares of ONTO stock opened at $97.04 on Thursday. The firm has a 50-day moving average price of $97.82 and a 200 day moving average price of $132.41. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.63 and a beta of 1.45.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The company 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 revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 EPS. As a group, research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.