Systematic Financial Management LP Cuts Position in Onto Innovation Inc. $ONTO

Systematic Financial Management LP decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 9.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,345 shares of the semiconductor company’s stock after selling 18,453 shares during the period. Systematic Financial Management LP’s holdings in Onto Innovation were worth $36,574,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sei Investments Co. grew its stake in shares of Onto Innovation by 67.0% in the 1st quarter. Sei Investments Co. now owns 72,117 shares of the semiconductor company’s stock worth $14,790,000 after buying an additional 28,941 shares during the last quarter. Globeflex Capital L P bought a new position in Onto Innovation during the 1st quarter valued at approximately $2,615,000. State of Wyoming raised its stake in Onto Innovation by 19.6% during the first quarter. State of Wyoming now owns 1,381 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 226 shares during the last quarter. Cetera Investment Advisers raised its stake in Onto Innovation by 15.6% during the first quarter. Cetera Investment Advisers now owns 13,266 shares of the semiconductor company’s stock valued at $2,720,000 after buying an additional 1,793 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new stake in Onto Innovation in the first quarter worth $230,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.3%

Shares of NYSE ONTO opened at $291.31 on Friday. The firm has a market cap of $14.49 billion, a P/E ratio of 136.13, a PEG ratio of 1.21 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The company has a 50 day moving average of $296.34 and a 200 day moving average of $251.05.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. As a group, equities analysts expect that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. B. Riley Financial increased their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 price target for the company. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a research note on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Onto Innovation currently has an average rating of “Buy” and an average price target 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.