Raymond James & Associates raised its stake in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,928 shares of the semiconductor company's stock after acquiring an additional 515 shares during the period. Raymond James & Associates owned about 0.10% of Onto Innovation worth $4,338,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ONTO. Advisor Group Holdings Inc. grew its position in Onto Innovation by 48.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,535 shares of the semiconductor company's stock valued at $764,000 after acquiring an additional 2,467 shares during the period. Bank of America Corp DE grew its position in Onto Innovation by 3.7% in the fourth quarter. Bank of America Corp DE now owns 171,407 shares of the semiconductor company's stock valued at $17,351,000 after acquiring an additional 6,129 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Onto Innovation in the fourth quarter valued at $333,000. UMB Bank N A MO bought a new stake in Onto Innovation in the fourth quarter valued at $78,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Onto Innovation during the fourth quarter worth $72,000. 95.06% of the stock is currently owned by institutional investors.
Get Onto Innovation alerts:Onto Innovation Stock Performance
Shares of ONTO stock opened at $65.98 on Wednesday. Onto Innovation Inc. has a 52 week low of $59.95 and a 52 week high of $106.09. The stock has a market capitalization of $3.28 billion, a PE ratio of 17.92 and a beta of 1.36. The stock's fifty day moving average is $75.41 and its 200-day moving average is $77.32.
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 (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $241.80 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, analysts forecast that Onto Innovation Inc. will post 5.27 earnings per share for the current fiscal year.Wall Street Analyst Weigh In
Several brokerages have recently commented on ONTO. 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 report on Wednesday, June 15th. DA Davidson restated a "buy" rating on shares of Onto Innovation in a report on Wednesday, July 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Onto Innovation presently has a consensus rating of "Buy" and an average price target of $110.00.
About Onto Innovation
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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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