Thrivent Financial for Lutherans Has $3.46 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Thrivent Financial for Lutherans reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,792 shares of the semiconductor company’s stock after selling 564 shares during the quarter. Thrivent Financial for Lutherans owned 0.10% of Onto Innovation worth $3,458,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its position in shares of Onto Innovation by 60.5% during the third quarter. Point72 Hong Kong Ltd now owns 1,207 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 455 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Onto Innovation by 80.8% during the third quarter. TD Asset Management Inc. now owns 29,282 shares of the semiconductor company’s stock valued at $1,908,000 after purchasing an additional 13,082 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Onto Innovation by 14.7% during the fourth quarter. ProShare Advisors LLC now owns 7,824 shares of the semiconductor company’s stock valued at $533,000 after purchasing an additional 1,005 shares in the last quarter. ARGA Investment Management LP bought a new position in shares of Onto Innovation during the third quarter valued at about $543,000. Finally, Campbell Newman Asset Management Inc. lifted its position in shares of Onto Innovation by 3.0% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,120 shares of the semiconductor company’s stock valued at $1,234,000 after purchasing an additional 531 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Up 5.8 %

ONTO opened at $93.44 on Tuesday. The firm has a 50-day moving average price of $83.92 and a 200-day moving average price of $79.45. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 23.30 and a beta of 1.46. Onto Innovation Inc. has a twelve month low of $56.02 and a twelve month high of $93.56.

Onto Innovation (NYSE:ONTO – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $199.17 million during the quarter, compared to analysts’ expectations of $200.00 million. Onto Innovation had a net margin of 20.67% and a return on equity of 16.09%. Onto Innovation’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, sell-side analysts expect that Onto Innovation Inc. will post 3.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Onto Innovation from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. B. Riley lifted their price objective on shares of Onto Innovation from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Needham & Company LLC lifted their price objective on shares of Onto Innovation from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Jefferies Financial Group started coverage on shares of Onto Innovation in a research report on Thursday, April 20th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, DA Davidson lifted their price objective on shares of Onto Innovation from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.80.

Onto Innovation Profile

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Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.