Hsbc Holdings PLC Decreases Position in Onto Innovation Inc. $ONTO

Hsbc Holdings PLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 67.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,464 shares of the semiconductor company’s stock after selling 24,300 shares during the quarter. Hsbc Holdings PLC’s holdings in Onto Innovation were worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC increased its position in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after buying an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 128 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Onto Innovation during the 4th quarter valued at $39,000. Finally, Danske Bank A S bought a new position in shares of Onto Innovation during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE ONTO traded up $4.51 during trading hours on Friday, hitting $321.53. The company had a trading volume of 903,338 shares, compared to its average volume of 1,417,770. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46. The firm has a 50 day simple moving average of $294.75 and a 200 day simple moving average of $241.98. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 150.25, a PEG ratio of 1.31 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The firm had revenue of $291.95 million for the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the prior year, the business posted $1.51 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, research analysts forecast that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ONTO shares. Evercore reissued an “outperform” rating and issued a $315.00 price objective on shares of Onto Innovation in a report on Friday, April 17th. Oppenheimer increased their target price on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $350.00 target price on shares of Onto Innovation in a research note on Wednesday, May 6th. Morgan Stanley started coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Finally, Needham & Company LLC upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.60.

About Onto Innovation

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.