Metropolitan Life Insurance Co NY cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 75.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,041 shares of the semiconductor company's stock after selling 9,487 shares during the quarter. Metropolitan Life Insurance Co NY's holdings in Onto Innovation were worth $264,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ONTO. Pitcairn Co. grew its holdings in Onto Innovation by 1.7% during the fourth quarter. Pitcairn Co. now owns 8,163 shares of the semiconductor company's stock valued at $826,000 after purchasing an additional 140 shares during the period. First Horizon Advisors Inc. increased its holdings in Onto Innovation by 19.0% in the 4th quarter. First Horizon Advisors Inc. now owns 1,022 shares of the semiconductor company's stock worth $103,000 after acquiring an additional 163 shares during the last quarter. FourThought Financial LLC lifted its stake in shares of Onto Innovation by 19.7% during the 1st quarter. FourThought Financial LLC now owns 1,144 shares of the semiconductor company's stock valued at $99,000 after buying an additional 188 shares in the last quarter. CWM LLC increased its holdings in shares of Onto Innovation by 186.1% in the first quarter. CWM LLC now owns 309 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 201 shares during the period. Finally, Signaturefd LLC grew its position in Onto Innovation by 144.8% in the first quarter. Signaturefd LLC now owns 448 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 265 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors.
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Onto Innovation Stock Up 2.2 %
ONTO stock opened at $67.46 on Thursday. The business's 50-day moving average price is $74.98 and its 200-day moving average price is $76.57. The stock has a market cap of $3.35 billion, a P/E ratio of 17.89 and a beta of 1.36. Onto Innovation Inc. has a twelve month low of $59.95 and a twelve month high of $106.09.
Onto Innovation (NYSE:ONTO – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.02. The business had revenue of $256.30 million for the quarter, compared to the consensus estimate of $241.80 million. Onto Innovation had a net
margin of 20.36% and a return on equity of 16.52%. The company's revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 5.27 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on ONTO shares. B. Riley decreased their price target on Onto Innovation from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, June 15th. DA Davidson reiterated a "buy" rating on shares of Onto Innovation in a research note on Wednesday, July 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $110.00.
Onto Innovation Company Profile
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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
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