Teza Capital Management LLC Has $734,000 Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Teza Capital Management LLC lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,406 shares of the semiconductor company’s stock after selling 1,052 shares during the period. Teza Capital Management LLC’s holdings in Onto Innovation were worth $734,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock worth $2,680,000 after buying an additional 225 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 worth $416,863,000 after buying an additional 228,800 shares in the last quarter. Barclays PLC lifted its holdings in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Onto Innovation by 40.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company’s stock valued at $23,410,000 after acquiring an additional 40,290 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Onto Innovation by 35.6% during the fourth quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company’s stock valued at $268,000 after acquiring an additional 421 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 1.1%

Shares of NYSE ONTO opened at $100.48 on Tuesday. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The company has a market cap of $4.91 billion, a PE ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 1.55. The company has a 50-day moving average of $120.19 and a two-hundred day moving average of $155.23.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The company had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ONTO. Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Benchmark cut their price objective on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday, May 9th. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group cut their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.14.

Onto Innovation 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.