Swiss National Bank Lowers Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Swiss National Bank reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,741 shares of the semiconductor company’s stock after selling 1,400 shares during the period. Swiss National Bank’s holdings in Onto Innovation were worth $11,617,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in Onto Innovation by 13.7% in the fourth quarter. Russell Investments Group Ltd. now owns 13,622 shares of the semiconductor company’s stock worth $2,270,000 after purchasing an additional 1,640 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Onto Innovation by 46.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,360 shares of the semiconductor company’s stock worth $393,000 after buying an additional 744 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Onto Innovation during the 4th quarter worth $9,684,000. Barclays PLC grew its position in shares of Onto Innovation by 32.7% during the 4th quarter. Barclays PLC now owns 288,152 shares of the semiconductor company’s stock worth $48,028,000 after buying an additional 70,962 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Onto Innovation by 363.3% during the fourth quarter. Jump Financial LLC now owns 24,656 shares of the semiconductor company’s stock valued at $4,109,000 after buying an additional 19,334 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ONTO. Cantor Fitzgerald lowered their price objective 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. Oppenheimer lowered their price target on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. B. Riley cut their price objective on shares of Onto Innovation from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the stock a “hold” rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $137.86.

Onto Innovation Stock Down 1.1%

NYSE ONTO opened at $110.26 on Friday. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42. The company has a 50 day moving average price of $99.46 and a 200 day moving average price of $120.99. The firm has a market cap of $5.40 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 0.75 and a beta of 1.44.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%. The firm had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $250.56 million. During the same period in the prior year, the firm posted $1.32 earnings per share. Onto Innovation’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Onto Innovation Company 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.