UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $27.84 Million Position in Onto Innovation Inc. (NYSE:ONTO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,123 shares of the semiconductor company’s stock after acquiring an additional 1,530 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.27% of Onto Innovation worth $27,839,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. LGT Financial Advisors LLC grew its position in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 90 shares during the period. Fifth Third Bancorp raised its stake in Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Onto Innovation in the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ONTO. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Stock Performance

Shares of ONTO opened at $170.13 on Thursday. The business’s fifty day moving average price is $189.22 and its two-hundred day moving average price is $201.71. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 1.09 and a beta of 1.30. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, research analysts forecast that Onto Innovation Inc. will post 5.22 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.