JPMorgan Chase & Co. Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

JPMorgan Chase & Co. boosted its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,008,399 shares of the semiconductor company's stock after purchasing an additional 228,800 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.07% of Onto Innovation worth $416,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock valued at $98,329,000 after buying an additional 337,250 shares during the period. Congress Asset Management Co. boosted its position in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after purchasing an additional 284,115 shares in the last quarter. Barclays PLC increased its position in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after purchasing an additional 201,640 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company's stock worth $53,824,000 after buying an additional 194,056 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Down 1.0 %

Shares of NYSE:ONTO traded down $1.79 on Friday, hitting $170.66. The company had a trading volume of 596,760 shares, compared to its average volume of 600,655. The firm's 50-day simple moving average is $175.21 and its two-hundred day simple moving average is $195.09. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 46.25, a P/E/G ratio of 1.07 and a beta of 1.30. Onto Innovation Inc. has a 1 year low of $134.11 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data 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 net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the business posted $0.96 earnings per share. Onto Innovation's quarterly revenue was up 21.7% compared to the same quarter last year. Equities research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ONTO shares. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday, November 1st. Benchmark reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Oppenheimer restated an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.29.

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.