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

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

Several other large investors have also added to or reduced their stakes in ONTO. Acadian Asset Management LLC purchased a new position in shares of Onto Innovation during the 2nd quarter valued at $397,000. O Neil Global Advisors Inc. bought a new position in Onto Innovation in the 2nd quarter worth about $530,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Onto Innovation during the 2nd quarter valued at about $5,432,000. Envestnet Asset Management Inc. boosted its position in shares of Onto Innovation by 15.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 68,943 shares of the semiconductor company’s stock valued at $15,137,000 after acquiring an additional 9,319 shares during the last quarter. Finally, Prosperity Consulting Group LLC purchased a new position in shares of Onto Innovation during the second quarter worth about $389,000. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of several research analyst reports. Needham & Company LLC dropped their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Trading Down 1.2 %

ONTO opened at $189.86 on Friday. Onto Innovation Inc. has a 12 month low of $138.27 and a 12 month high of $238.93. The business’s 50-day moving average price is $171.03 and its 200-day moving average price is $192.45. The company has a market cap of $9.38 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.07 and a beta of 1.29.

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