Envestnet Asset Management Inc. Acquires 2,910 Shares of Onto Innovation Inc. (NYSE:ONTO)

Envestnet Asset Management Inc. lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,037 shares of the semiconductor company’s stock after purchasing an additional 2,910 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of Onto Innovation worth $10,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONTO. Proficio Capital Partners LLC bought a new position in shares of Onto Innovation during the fourth quarter worth $252,000. HighTower Advisors LLC boosted its position 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 purchasing an additional 403 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Onto Innovation by 1.4% during 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 in the last quarter. Xponance Inc. boosted its position in shares of Onto Innovation by 5.6% during the fourth quarter. Xponance Inc. now owns 6,804 shares of the semiconductor company’s stock worth $1,134,000 after purchasing an additional 360 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Onto Innovation by 28.1% during the fourth quarter. Teacher Retirement System of Texas now owns 21,683 shares of the semiconductor company’s stock worth $3,614,000 after purchasing an additional 4,762 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

ONTO has been the topic of a number of research analyst reports. Oppenheimer dropped their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a “hold” rating in a report on Tuesday, May 20th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald dropped their price objective 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. Finally, Needham & Company LLC dropped their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Onto Innovation Trading Down 1.9%

Shares of ONTO stock opened at $96.82 on Monday. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $228.42. The firm’s fifty day moving average price is $97.85 and its two-hundred day moving average price is $133.47. The firm has a market capitalization of $4.73 billion, a P/E ratio of 21.90, a PEG ratio of 0.63 and a beta of 1.45.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same period in the previous year, the business earned $1.18 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Onto Innovation Inc. will post 6.26 EPS 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.