First Hawaiian Bank Decreases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

First Hawaiian Bank lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 34.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,945 shares of the semiconductor company's stock after selling 4,105 shares during the quarter. First Hawaiian Bank's holdings in Onto Innovation were worth $1,324,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its stake in shares of Onto Innovation by 45.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock valued at $23,112,000 after buying an additional 33,025 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock worth $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after purchasing an additional 13,405 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Onto Innovation during the 3rd quarter worth approximately $14,539,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONTO has been the subject of several recent research reports. Oppenheimer reissued an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Benchmark reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Price Performance

Shares of ONTO traded down $2.36 during mid-day trading on Friday, reaching $189.86. The company's stock had a trading volume of 534,207 shares, compared to its average volume of 744,818. The company's 50 day moving average is $170.75 and its 200 day moving average is $192.80. The stock has a market cap of $9.38 billion, a PE ratio of 51.45, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $138.27 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Onto Innovation Company Profile

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.