State of Alaska Department of Revenue increased its stake in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 8.9% during the second quarter, HoldingsChannel reports. The firm owned 37,448 shares of the semiconductor company’s stock after acquiring an additional 3,075 shares during the period. State of Alaska Department of Revenue’s holdings in Onto Innovation were worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Onto Innovation by 186.1% in the 1st 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. San Luis Wealth Advisors LLC bought a new stake in Onto Innovation during the 1st quarter valued at $35,000. Signaturefd LLC raised its holdings in Onto Innovation by 144.8% during the 1st quarter. Signaturefd LLC now owns 448 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 265 shares during the period. Archer Investment Corp bought a new stake in Onto Innovation during the 1st quarter valued at $56,000. Finally, Quadrant Capital Group LLC raised its holdings in Onto Innovation by 71.9% during the 1st quarter. Quadrant Capital Group LLC now owns 660 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 276 shares during the period. Institutional investors own 95.06% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. DA Davidson reissued a “buy” rating on shares of Onto Innovation in a report on Wednesday, July 27th. B. Riley lowered their target price on shares of Onto Innovation from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, June 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $110.00.
Onto Innovation Stock Performance
Onto Innovation (NYSE:ONTO – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The semiconductor company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. The firm had revenue of $256.30 million for the quarter, compared to analysts’ expectations of $241.80 million. Onto Innovation had a net margin of 20.36% and a return on equity of 16.52%. The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Sell-side analysts predict that Onto Innovation Inc. will post 5.27 earnings per share for the current year.
Onto Innovation Company Profile
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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