International Assets Investment Management LLC Sells 40,262 Shares of Onto Innovation Inc. (NYSE:ONTO)

International Assets Investment Management LLC reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 97.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,250 shares of the semiconductor company’s stock after selling 40,262 shares during the period. International Assets Investment Management LLC’s holdings in Onto Innovation were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ONTO. Millennium Management LLC boosted its stake in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after buying an additional 337,250 shares during the period. Congress Asset Management Co. raised its position in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Citigroup Inc. raised its position in Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after purchasing an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Finally, Barclays PLC raised its position in 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 purchasing an additional 201,640 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Up 0.8 %

Shares of Onto Innovation stock opened at $191.14 on Tuesday. Onto Innovation Inc. has a twelve month low of $141.79 and a twelve month high of $238.93. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 51.80, a P/E/G ratio of 1.07 and a beta of 1.29. The company’s fifty day moving average is $171.39 and its 200 day moving average is $192.08.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on ONTO shares. Cantor Fitzgerald started coverage on shares of Onto Innovation in a research report on Monday. They set an “overweight” rating and a $250.00 price objective for the company. Jefferies Financial Group lowered their price objective 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. Oppenheimer reiterated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Needham & Company LLC lowered their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.75.

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.