Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 76.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,680 shares of the semiconductor company’s stock after acquiring an additional 28,926 shares during the period. Lazard Asset Management LLC owned 0.14% of Onto Innovation worth $12,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its position in Onto Innovation by 153.6% during the fourth quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 8,792 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Onto Innovation in the fourth quarter valued at approximately $207,000. Pacer Advisors Inc. increased its holdings in shares of Onto Innovation by 2,306.3% in the fourth quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 10,540 shares during the period. Fifth Third Bancorp increased its holdings in shares of Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the period. Finally, Value Aligned Research Advisors LLC increased its holdings in shares of Onto Innovation by 63.7% in the fourth quarter. Value Aligned Research Advisors LLC now owns 26,813 shares of the semiconductor company’s stock valued at $4,100,000 after purchasing an additional 10,435 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ONTO. B. Riley lifted their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Jefferies Financial Group assumed coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. Evercore ISI boosted their target price on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, Stifel Nicolaus boosted their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $259.00.

Insiders Place Their Bets

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at $2,776,627.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Onto Innovation Trading Down 0.2 %

Shares of NYSE:ONTO traded down $0.34 on Friday, hitting $188.80. The company had a trading volume of 632,788 shares, compared to its average volume of 931,150. Onto Innovation Inc. has a 52-week low of $105.58 and a 52-week high of $238.93. The business has a 50 day moving average of $220.52 and a 200 day moving average of $194.50. The company has a market cap of $9.30 billion, a PE ratio of 67.19 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm had revenue of $228.80 million during the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, equities analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current year.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also 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.