Harbor Capital Advisors Inc. Acquires New Position in Onto Innovation Inc. (NYSE:ONTO)

Harbor Capital Advisors Inc. purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,366 shares of the semiconductor company's stock, valued at approximately $2,894,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Public Employees Retirement Association of Colorado boosted its position in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after acquiring an additional 33,025 shares in the last quarter. Cerity Partners LLC boosted its holdings in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 last quarter. JPMorgan Chase & Co. raised its holdings in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $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 shares of Onto Innovation during the 3rd quarter worth approximately $14,539,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Down 1.2 %

ONTO traded down $2.36 on Friday, hitting $189.86. 534,207 shares of the company traded hands, compared to its average volume of 744,818. Onto Innovation Inc. has a 12-month low of $138.27 and a 12-month high of $238.93. The company has a 50 day moving average of $171.03 and a 200-day moving average of $192.29. The stock has a market capitalization of $9.38 billion, a PE ratio of 51.45, a PEG ratio of 1.07 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company's quarterly revenue was up 21.7% compared to the same quarter last year. On average, research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research analyst reports. Needham & Company LLC decreased their price objective 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. Jefferies Financial Group reduced 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. Benchmark restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.29.

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.