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Morse Asset Management Inc Purchases 825 Shares of Onto Innovation Inc. (NYSE:ONTO)

Financial News Live ·  Sep 4, 2022 11:51

Morse Asset Management Inc increased its position in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,450 shares of the semiconductor company's stock after acquiring an additional 825 shares during the period. Morse Asset Management Inc's holdings in Onto Innovation were worth $1,690,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Onto Innovation by 953.1% in the fourth quarter. Alliancebernstein L.P. now owns 784,210 shares of the semiconductor company's stock worth $79,386,000 after acquiring an additional 709,745 shares during the period. Invesco Ltd. lifted its position in shares of Onto Innovation by 21.0% in the fourth quarter. Invesco Ltd. now owns 647,246 shares of the semiconductor company's stock worth $65,520,000 after buying an additional 112,539 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of Onto Innovation in the first quarter worth about $8,561,000. Royce & Associates LP lifted its position in shares of Onto Innovation by 16.1% in the first quarter. Royce & Associates LP now owns 529,087 shares of the semiconductor company's stock worth $45,972,000 after buying an additional 73,542 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of Onto Innovation by 187.4% in the fourth quarter. Penserra Capital Management LLC now owns 73,155 shares of the semiconductor company's stock worth $7,404,000 after buying an additional 47,703 shares in the last quarter. Institutional investors own 95.06% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. B. Riley decreased their target price on Onto Innovation from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, June 15th. DA Davidson restated a "buy" rating on shares of Onto Innovation in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Onto Innovation currently has an average rating of "Buy" and a consensus price target of $110.00.

Onto Innovation Stock Performance

ONTO stock traded down $0.13 during midday trading on Friday, reaching $67.57. 152,868 shares of the company traded hands, compared to its average volume of 311,150. Onto Innovation Inc. has a 52-week low of $59.95 and a 52-week high of $106.09. The business has a 50 day moving average of $75.41 and a 200-day moving average of $77.32. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 17.92 and a beta of 1.33.

Onto Innovation (NYSE:ONTO – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. Onto Innovation had a return on equity of 16.52% and a net margin of 20.36%. The business had revenue of $256.30 million for the quarter, compared to the consensus estimate of $241.80 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company's quarterly revenue was up 32.5% compared to the same quarter last year. Research analysts anticipate that Onto Innovation Inc. will post 5.27 earnings per share for the current year.

Onto Innovation 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.

Further Reading

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