Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada grew its position in Onto Innovation Inc. (NYSE:ONTO) by 32.0% during the fourth quarter, Holdings Channel reports. The firm owned 485,408 shares of the semiconductor company’s stock after acquiring an additional 117,798 shares during the period. Royal Bank of Canada’s holdings in Onto Innovation were worth $80,903,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Onto Innovation by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock worth $2,680,000 after buying an additional 225 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. Barclays PLC boosted its stake in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after buying an additional 201,640 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Onto Innovation by 40.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company’s stock worth $23,410,000 after buying an additional 40,290 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Onto Innovation by 35.6% in the fourth quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company’s stock worth $268,000 after buying an additional 421 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Needham & Company LLC lowered their target price on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group lowered their target price on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Benchmark lowered their price target on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.14.

Onto Innovation Trading Up 1.1%

Shares of ONTO stock opened at $100.48 on Tuesday. The company has a market capitalization of $4.91 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 1.55. The business’s 50 day moving average is $120.19 and its two-hundred day moving average is $155.23. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 14.24% and a net margin of 20.43%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. On average, research analysts predict 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.