Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Onto Innovation Inc. (NYSE:ONTO) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,841 shares of the semiconductor company’s stock after purchasing an additional 151 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Onto Innovation worth $13,813,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation in the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Onto Innovation in the fourth quarter valued at about $47,000. Versant Capital Management Inc grew 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 purchasing an additional 386 shares during the period. Finally, Rakuten Securities Inc. grew its position in shares of Onto Innovation by 1,588.0% in the first quarter. Rakuten Securities Inc. now owns 844 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald reduced their target price on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 24th. Needham & Company LLC reduced their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus reduced their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Finally, Oppenheimer dropped their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Onto Innovation Stock Down 1.0%

NYSE ONTO opened at $101.85 on Friday. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93. The stock has a market capitalization of $4.97 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45. The firm has a 50 day moving average of $99.76 and a two-hundred day moving average of $136.17.

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