Onto Innovation Inc. $ONTO Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 21.3% in the 4th quarter, HoldingsChannel reports. The firm owned 74,440 shares of the semiconductor company’s stock after selling 20,113 shares during the period. Legal & General Group Plc’s holdings in Onto Innovation were worth $11,751,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in Onto Innovation in the 4th quarter valued at about $943,000. Hantz Financial Services Inc. raised its stake in Onto Innovation by 192.2% in the 4th quarter. Hantz Financial Services Inc. now owns 16,713 shares of the semiconductor company’s stock valued at $2,638,000 after purchasing an additional 10,994 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Onto Innovation by 98.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,006 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 499 shares during the last quarter. Global Retirement Partners LLC raised its stake in Onto Innovation by 274.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,679 shares of the semiconductor company’s stock valued at $265,000 after purchasing an additional 1,231 shares during the last quarter. Finally, Fortis Group Advisors LLC raised its stake in Onto Innovation by 18.9% in the 4th quarter. Fortis Group Advisors LLC now owns 2,723 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $280.76 on Thursday. Onto Innovation Inc. has a 1 year low of $89.40 and a 1 year high of $316.00. The stock has a market capitalization of $13.97 billion, a P/E ratio of 131.20, a PEG ratio of 1.31 and a beta of 1.62. The stock has a 50-day simple moving average of $260.31 and a 200-day simple moving average of $210.82.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The business had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter in the previous year, the business earned $1.51 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts predict that Onto Innovation Inc. will post 7.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ONTO shares. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. B. Riley Financial upped their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Onto Innovation in a research note on Monday. Finally, Evercore reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.