Vanguard Group Inc. Sells 539,476 Shares of Onto Innovation Inc. (NYSE:ONTO)

Vanguard Group Inc. trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,188,815 shares of the semiconductor company’s stock after selling 539,476 shares during the quarter. Vanguard Group Inc. owned 0.11% of Onto Innovation worth $793,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Onto Innovation by 14,819.4% in the 4th quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after acquiring an additional 611,449 shares in the last quarter. Norges Bank bought a new position in Onto Innovation in the fourth quarter worth $89,785,000. Price T Rowe Associates Inc. MD boosted its stake in Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after buying an additional 371,641 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Onto Innovation by 854.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after buying an additional 265,042 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 48.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 404,599 shares of the semiconductor company’s stock valued at $61,863,000 after buying an additional 132,661 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ONTO shares. Benchmark lifted their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI upped their price objective on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. B. Riley increased their target price on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Finally, Stifel Nicolaus increased their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Onto Innovation Trading Down 2.4 %

NYSE ONTO opened at $216.40 on Friday. Onto Innovation Inc. has a 1-year low of $103.93 and a 1-year high of $238.13. The company has a 50 day moving average of $210.54 and a 200-day moving average of $182.19. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 77.01 and a beta of 1.43.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. During the same period in the prior year, the company earned $0.92 EPS. Onto Innovation’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts forecast that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Insider Activity

In related news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.