Nicolet Advisory Services LLC Acquires 359 Shares of Onto Innovation Inc. (NYSE:ONTO)

Nicolet Advisory Services LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,879 shares of the semiconductor company’s stock after purchasing an additional 359 shares during the period. Nicolet Advisory Services LLC’s holdings in Onto Innovation were worth $340,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Onto Innovation by 48.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company’s stock valued at $156,700,000 after buying an additional 421,165 shares during the period. Invesco Ltd. increased its position in shares of Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after buying an additional 356,161 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation during the first quarter worth about $31,175,000. D. E. Shaw & Co. Inc. boosted its stake in Onto Innovation by 8,504.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company’s stock worth $37,056,000 after acquiring an additional 219,746 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Onto Innovation by 80.9% during the fourth quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company’s stock worth $68,786,000 after acquiring an additional 184,612 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

ONTO has been the topic of several research reports. 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 research note on Friday, May 9th. Wall Street Zen raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Oppenheimer dropped their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald dropped 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. Finally, Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a “hold” rating in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. 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 Trading Down 0.5%

Shares of NYSE ONTO opened at $94.27 on Friday. The firm’s 50-day moving average price is $98.12 and its 200-day moving average price is $127.32. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 0.61 and a beta of 1.44. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $228.42.

Onto Innovation (NYSE:ONTO) last announced its 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. 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 business’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. On average, equities analysts predict 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.