Nisa Investment Advisors LLC Has $123,000 Holdings in Onto Innovation Inc. (NYSE:ONTO)

Nisa Investment Advisors LLC lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 89.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,012 shares of the semiconductor company’s stock after selling 8,847 shares during the period. Nisa Investment Advisors LLC’s holdings in Onto Innovation were worth $123,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Onto Innovation during the fourth quarter worth approximately $252,000. HighTower Advisors LLC grew its stake in shares of Onto Innovation by 4.0% during the fourth quarter. HighTower Advisors LLC now owns 10,587 shares of the semiconductor company’s stock worth $1,765,000 after buying an additional 403 shares during the last quarter. Commonwealth Equity Services LLC grew 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 purchasing an additional 225 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Onto Innovation by 8.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 350,261 shares of the semiconductor company’s stock worth $58,378,000 after purchasing an additional 28,741 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Onto Innovation by 5.6% in the fourth quarter. Xponance Inc. now owns 6,804 shares of the semiconductor company’s stock valued at $1,134,000 after buying an additional 360 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONTO. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Cantor Fitzgerald lowered their target price on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, June 24th. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a “hold” rating in a report on Tuesday, May 20th. Oppenheimer reduced their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Finally, Benchmark reduced their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Onto Innovation Price Performance

NYSE:ONTO opened at $98.67 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45. The company has a 50 day moving average price of $97.69 and a 200-day moving average price of $134.44. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42.

Onto Innovation (NYSE:ONTO) last announced its quarterly 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 firm had revenue of $267.00 million for the quarter, compared to analysts’ expectations of $267.03 million. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS. On average, sell-side analysts anticipate 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.