Ethic Inc. Purchases Shares of 4,258 Onto Innovation Inc. (NYSE:ONTO)

Ethic Inc. purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,258 shares of the semiconductor company’s stock, valued at approximately $710,000.

Other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. lifted its position in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Onto Innovation in the fourth quarter worth $38,000. SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation in the fourth quarter worth $43,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Onto Innovation in the fourth quarter worth $47,000. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ONTO shares. Benchmark cut their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Oppenheimer cut their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC cut their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.14.

Onto Innovation Trading Up 3.5%

Shares of ONTO opened at $102.71 on Thursday. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The company’s fifty day simple moving average is $121.87 and its 200 day simple moving average is $157.92.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million for the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, research analysts forecast 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.