State of Alaska Department of Revenue Acquires 150 Shares of Onto Innovation Inc. (NYSE:ONTO)

State of Alaska Department of Revenue lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,785 shares of the semiconductor company’s stock after acquiring an additional 150 shares during the quarter. State of Alaska Department of Revenue’s holdings in Onto Innovation were worth $701,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Onto Innovation during the 4th quarter valued at $38,000. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the 4th quarter valued at $43,000. Aster Capital Management DIFC Ltd bought a new stake in Onto Innovation in the 4th quarter worth $47,000. Finally, Versant Capital Management Inc increased its position in shares of Onto Innovation by 165.0% in the first quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 386 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Down 1.6%

Shares of Onto Innovation stock opened at $98.66 on Friday. The company has a market cap of $4.82 billion, a PE ratio of 22.32, a P/E/G ratio of 0.64 and a beta of 1.45. The business has a 50 day moving average of $103.68 and a 200 day moving average of $140.92. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. On average, research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC dropped their target price on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a report on Friday, May 9th. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a “hold” rating in a report on Tuesday, May 20th. Benchmark decreased their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $141.67.

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.