First Hawaiian Bank Has $1.32 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

First Hawaiian Bank trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 34.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ONTO. Millennium Management LLC grew its position in Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after acquiring an additional 337,250 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Citigroup Inc. increased its position in 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 buying an additional 284,115 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 valued at $416,863,000 after buying an additional 228,800 shares in the last quarter. Finally, Barclays PLC lifted 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 buying an additional 201,640 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group lowered 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 price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Price Performance

NYSE:ONTO opened at $191.88 on Friday. The stock has a market cap of $9.48 billion, a P/E ratio of 52.00, a PEG ratio of 1.07 and a beta of 1.29. The company has a fifty day moving average price of $170.75 and a 200 day moving average price of $192.80. Onto Innovation Inc. has a one year low of $136.32 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating 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 analysts’ expectations of $250.85 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current 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.