Assenagon Asset Management S.A. Has $9.19 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Assenagon Asset Management S.A. cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 52.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,751 shares of the semiconductor company’s stock after selling 83,595 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Onto Innovation were worth $9,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC bought a new stake in Onto Innovation in the fourth quarter worth $26,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Onto Innovation in the fourth quarter worth $38,000. SBI Securities Co. Ltd. bought a new stake in Onto Innovation in the fourth quarter worth $43,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Onto Innovation in the fourth quarter worth $47,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $135.00 price objective (down from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Oppenheimer decreased their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the stock a “hold” rating in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Finally, Stifel Nicolaus decreased their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.86.

Onto Innovation Price Performance

ONTO stock opened at $94.78 on Friday. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $238.93. The company has a 50-day moving average of $108.12 and a two-hundred day moving average of $145.89. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $267.03 million. During the same period in the prior year, the company earned $1.18 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Onto Innovation Profile

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.