Everence Capital Management Inc. Buys Shares of 1,560 Onto Innovation Inc. (NYSE:ONTO)

Everence Capital Management Inc. purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,560 shares of the semiconductor company’s stock, valued at approximately $260,000.

Several other institutional investors have also made changes to their positions in the stock. Quarry LP lifted its position in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares in the last quarter. Eastern Bank acquired a new stake in Onto Innovation during the third quarter valued at $65,000. Finally, UMB Bank n.a. grew its stake in Onto Innovation by 62.0% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 124 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ONTO. Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group reduced 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 note on Friday, November 1st. Oppenheimer restated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Trading Up 0.5 %

NYSE ONTO opened at $193.30 on Wednesday. The company has a market cap of $9.55 billion, a P/E ratio of 52.38, a P/E/G ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $136.32 and a 1 year high of $238.93. The company has a fifty day simple moving average of $171.20 and a 200 day simple moving average of $192.81.

Onto Innovation (NYSE:ONTO) last issued 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 company had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period last year, the business posted $0.96 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal 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.