Onto Innovation Inc. $ONTO Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its holdings in Onto Innovation Inc. (NYSE:ONTO) by 28.2% during the 1st 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 period. Cetera Investment Advisers’ holdings in Onto Innovation were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ONTO. Sterling Capital Management LLC grew its stake in shares of Onto Innovation by 46.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,360 shares of the semiconductor company’s stock worth $393,000 after purchasing an additional 744 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Onto Innovation by 215.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 65,000 shares of the semiconductor company’s stock worth $10,834,000 after buying an additional 44,400 shares during the period. Natixis boosted its holdings in shares of Onto Innovation by 11.9% in the fourth quarter. Natixis now owns 22,507 shares of the semiconductor company’s stock worth $3,751,000 after buying an additional 2,400 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Onto Innovation by 8.8% in the fourth quarter. MetLife Investment Management LLC now owns 28,388 shares of the semiconductor company’s stock worth $4,731,000 after buying an additional 2,298 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in shares of Onto Innovation in the fourth quarter worth about $2,005,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a “hold” rating in a report on Tuesday, May 20th. Benchmark decreased their target price on shares of Onto Innovation from $190.00 to $160.00 and set a “buy” rating for the company in a report on Friday, August 8th. Oppenheimer decreased their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Needham & Company LLC decreased their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Onto Innovation Stock Performance

Shares of ONTO opened at $106.97 on Monday. The firm has a market cap of $5.24 billion, a PE ratio of 26.48, a PEG ratio of 0.72 and a beta of 1.44. The firm’s 50 day moving average price is $99.68 and its 200 day moving average price 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 data 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 business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. Onto Innovation’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 EPS. On average, sell-side analysts anticipate 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.