Wealth Enhancement Advisory Services LLC Has $239,000 Stake in Onto Innovation Inc. (NYSE:ONTO)

Wealth Enhancement Advisory Services LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 47.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,434 shares of the semiconductor company’s stock after selling 1,299 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Onto Innovation were worth $239,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Commonwealth Equity Services LLC increased its stake in shares of Onto Innovation by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock valued at $2,680,000 after acquiring an additional 225 shares in the last quarter. Truist Financial Corp increased its stake in shares of Onto Innovation by 35.6% in the 4th quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company’s stock valued at $268,000 after acquiring an additional 421 shares in the last quarter. LPL Financial LLC increased its stake in shares of Onto Innovation by 35.3% in the 4th quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock valued at $5,945,000 after acquiring an additional 9,310 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Onto Innovation by 51.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company’s stock valued at $92,000 after acquiring an additional 185 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after acquiring an additional 76,233 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONTO. Needham & Company LLC decreased their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Oppenheimer decreased 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 note on Friday, May 9th. Stifel Nicolaus decreased their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the company a “hold” rating in a research note on Tuesday, May 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Onto Innovation Price Performance

NYSE ONTO opened at $98.70 on Tuesday. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $238.93. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 0.89 and a beta of 1.45. The company has a fifty day moving average price of $108.00 and a 200-day moving average price of $145.22.

Onto Innovation (NYSE:ONTO) last issued its quarterly 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 company 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 quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. On average, research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

About Onto Innovation

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.