Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lifted its stake in Onto Innovation Inc. (NYSE:ONTO) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,270 shares of the semiconductor company’s stock after purchasing an additional 380 shares during the period. Central Pacific Bank Trust Division’s holdings in Onto Innovation were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Versant Capital Management Inc boosted its position in 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 purchasing an additional 197 shares in the last quarter. Eastern Bank acquired a new stake in Onto Innovation in the third quarter valued at $65,000. Finally, UMB Bank n.a. increased its position in shares of 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 buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC dropped 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. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $275.00 price target 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 assigned 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 price target of $254.29.

Onto Innovation Stock Performance

ONTO stock opened at $180.03 on Friday. The company has a 50 day moving average price of $171.80 and a two-hundred day moving average price of $193.68. The stock has a market capitalization of $8.89 billion, a P/E ratio of 48.79, a PEG ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. Research analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share 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.