Everence Capital Management Inc. Invests $260,000 in Onto Innovation Inc. (NYSE:ONTO)

Everence Capital Management Inc. bought a new stake in Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,560 shares of the semiconductor company’s stock, valued at approximately $260,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Magnetar Financial LLC lifted its position in shares of Onto Innovation by 4.0% in the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 63 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after buying an additional 76 shares in the last quarter. Quarry LP increased its holdings in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the period. Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after buying an additional 80 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Onto Innovation by 2.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,975 shares of the semiconductor company’s stock worth $653,000 after acquiring an additional 85 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Onto Innovation stock opened at $193.30 on Wednesday. Onto Innovation Inc. has a 52 week low of $136.32 and a 52 week high of $238.93. The firm has a market cap of $9.55 billion, a P/E ratio of 52.38, a P/E/G ratio of 1.07 and a beta of 1.29. The business’s fifty day moving average is $171.20 and its two-hundred day moving average is $192.81.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ONTO shares. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research 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 reaffirmed a “buy” rating and issued 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 target on shares of Onto Innovation in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.