Zurcher Kantonalbank Zurich Cantonalbank Has $1.73 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,229 shares of the semiconductor company’s stock after selling 1,553 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Onto Innovation were worth $1,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Onto Innovation during the fourth quarter worth about $38,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $29,000 after acquiring an additional 151 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Onto Innovation by 79.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock worth $30,000 after buying an additional 108 shares during the period. Larson Financial Group LLC boosted its position in Onto Innovation by 3,700.0% during the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock worth $32,000 after buying an additional 259 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Onto Innovation during the 4th quarter worth approximately $47,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 0.5%

Shares of Onto Innovation stock opened at $94.27 on Friday. The company has a market cap of $4.60 billion, a PE ratio of 21.33, a P/E/G ratio of 0.61 and a beta of 1.44. The business has a 50 day moving average of $98.12 and a 200 day moving average of $127.32. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $228.42.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The company 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 revenue for the quarter was up 16.5% on a year-over-year basis. 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

Several analysts have recently commented on ONTO shares. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reduced their price target on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Needham & Company LLC cut 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. Benchmark cut their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Oppenheimer lowered their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.