Lazard Asset Management LLC Purchases 184,612 Shares of Onto Innovation Inc. (NYSE:ONTO)

Lazard Asset Management LLC raised its position in Onto Innovation Inc. (NYSE:ONTO) by 80.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 412,720 shares of the semiconductor company’s stock after acquiring an additional 184,612 shares during the quarter. Lazard Asset Management LLC owned approximately 0.84% of Onto Innovation worth $68,786,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Granahan Investment Management LLC increased its position in Onto Innovation by 9.3% in the fourth quarter. Granahan Investment Management LLC now owns 26,704 shares of the semiconductor company’s stock worth $4,451,000 after buying an additional 2,261 shares in the last quarter. Ethic Inc. purchased a new stake in Onto Innovation in the fourth quarter worth about $710,000. Circle Wealth Management LLC increased its position in Onto Innovation by 17.5% in the fourth quarter. Circle Wealth Management LLC now owns 5,559 shares of the semiconductor company’s stock worth $927,000 after buying an additional 827 shares in the last quarter. Deutsche Bank AG increased its position in Onto Innovation by 75.8% in the fourth quarter. Deutsche Bank AG now owns 98,189 shares of the semiconductor company’s stock worth $16,365,000 after buying an additional 42,336 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Onto Innovation by 8,504.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company’s stock worth $37,056,000 after purchasing an additional 219,746 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 5.4%

Shares of ONTO opened at $93.29 on Tuesday. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 0.89 and a beta of 1.55. The stock’s 50-day moving average price is $123.17 and its 200-day moving average price is $158.71.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Oppenheimer decreased their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. StockNews.com cut Onto Innovation from a “hold” rating to a “sell” rating in a report on Friday. Finally, Benchmark cut their price target on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $177.14.

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.