Mutual of America Capital Management LLC trimmed its position in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,024 shares of the semiconductor company’s stock after selling 2,835 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Onto Innovation worth $5,104,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Huntington National Bank grew its stake in Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Onto Innovation by 51.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after buying an additional 175 shares during the last quarter. CWM LLC grew its stake in Onto Innovation by 16.2% during the 2nd quarter. CWM LLC now owns 646 shares of the semiconductor company’s stock worth $75,000 after buying an additional 90 shares during the last quarter. Pinebridge Investments L.P. bought a new position in Onto Innovation during the 2nd quarter worth $78,000. Finally, Point72 Hong Kong Ltd bought a new position in Onto Innovation during the 2nd quarter worth $52,000. 94.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. B. Riley upped their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus upped their price objective on Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. StockNews.com lowered Onto Innovation from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Finally, Benchmark boosted their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.50.
Onto Innovation Trading Up 9.3 %
NYSE:ONTO opened at $180.01 on Monday. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 73.17 and a beta of 1.39. Onto Innovation Inc. has a 1-year low of $76.01 and a 1-year high of $180.12. The business’s fifty day moving average price is $152.39 and its 200 day moving average price is $134.98.
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. During the same period in the prior year, the firm posted $1.57 EPS. The business’s revenue was down 13.5% compared to the same quarter last year. Equities analysts forecast that Onto Innovation Inc. will post 4.67 earnings per share for the current year.
About Onto Innovation
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 optical metrology, macro-defect inspection, packaging lithography, 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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