HB Wealth Management LLC Boosts Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

HB Wealth Management LLC lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 45.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,899 shares of the semiconductor company’s stock after acquiring an additional 596 shares during the period. HB Wealth Management LLC’s holdings in Onto Innovation were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ONTO. Johnson Financial Group Inc. bought a new position in Onto Innovation during the fourth quarter valued at approximately $38,000. MassMutual Private Wealth & Trust FSB grew its position in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 151 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 valued at $30,000 after buying an additional 108 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Onto Innovation by 3,700.0% during the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 259 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Onto Innovation in the 4th quarter worth $47,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

NYSE:ONTO opened at $94.27 on Monday. The stock has a 50-day simple moving average of $98.12 and a two-hundred day simple moving average of $126.71. The firm has a market capitalization of $4.60 billion, a PE ratio of 21.33, a P/E/G ratio of 0.61 and a beta of 1.44. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42.

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, topping analysts’ consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. Onto Innovation’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 EPS. Equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research analyst reports. Wall Street Zen raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Stifel Nicolaus cut their price target on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Oppenheimer reduced their price target 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. Benchmark lowered their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the company a “hold” rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

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.