Onto Innovation Inc. (NYSE:ONTO) Stake Cut by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 17.4% in the 2nd quarter, Holdings Channel reports. The firm owned 414,354 shares of the semiconductor company’s stock after selling 87,173 shares during the quarter. American Century Companies Inc.’s holdings in Onto Innovation were worth $90,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fidelis Capital Partners LLC bought a new stake in shares of Onto Innovation during the 1st quarter valued at about $28,000. Rise Advisors LLC bought a new position in shares of Onto Innovation during the first quarter valued at approximately $38,000. GAMMA Investing LLC raised its position in shares of Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 85 shares during the period. LGT Financial Advisors LLC lifted its holdings in shares of Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 110 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Up 2.5 %

ONTO stock opened at $197.82 on Friday. The company has a 50-day simple moving average of $200.25 and a 200 day simple moving average of $201.61. The company has a market capitalization of $9.77 billion, a P/E ratio of 70.40 and a beta of 1.37. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. Equities analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, August 9th. Finally, B. Riley boosted their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $259.00.

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.