Cetera Investment Advisers Sells 1,484 Shares of Onto Innovation Inc. $ONTO

Cetera Investment Advisers decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,779 shares of the semiconductor company’s stock after selling 1,484 shares during the quarter. Cetera Investment Advisers’ holdings in Onto Innovation were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Onto Innovation by 79.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 108 shares during the last quarter. Larson Financial Group LLC lifted its position in Onto Innovation by 3,700.0% in the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 259 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Onto Innovation in the fourth quarter valued at approximately $38,000. Finally, Berbice Capital Management LLC lifted its position in Onto Innovation by 33.3% in the first quarter. Berbice Capital Management LLC now owns 400 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

ONTO has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Benchmark reduced their target price on Onto Innovation from $190.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. B. Riley reduced their target price on Onto Innovation from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald reduced their target price on 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, Wall Street Zen raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Onto Innovation Stock Down 2.8%

Shares of ONTO stock opened at $106.97 on Monday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 0.72 and a beta of 1.44. The business’s fifty day moving average is $99.68 and its 200 day moving average is $119.37. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $228.42.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.02). The firm had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $250.56 million. Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%. Onto Innovation’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share. Equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Onto Innovation Company 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.