Onto Innovation Inc. (NYSE:ONTO) Stock Position Trimmed by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd cut its position in Onto Innovation Inc. (NYSE:ONTO) by 43.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,199 shares of the semiconductor company’s stock after selling 924 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $200,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Xponance Inc. lifted its position in Onto Innovation by 5.6% in the 4th quarter. Xponance Inc. now owns 6,804 shares of the semiconductor company’s stock valued at $1,134,000 after purchasing an additional 360 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Onto Innovation by 8.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 350,261 shares of the semiconductor company’s stock worth $58,378,000 after buying an additional 28,741 shares in the last quarter. South Street Advisors LLC raised its position in shares of Onto Innovation by 0.8% during the 4th quarter. South Street Advisors LLC now owns 89,292 shares of the semiconductor company’s stock worth $14,882,000 after buying an additional 742 shares in the last quarter. Picton Mahoney Asset Management raised its position in shares of Onto Innovation by 10.2% during the 4th quarter. Picton Mahoney Asset Management now owns 50,055 shares of the semiconductor company’s stock worth $8,344,000 after buying an additional 4,639 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Onto Innovation by 5.2% during the 4th quarter. First Eagle Investment Management LLC now owns 5,103 shares of the semiconductor company’s stock worth $851,000 after buying an additional 250 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ONTO shares. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer dropped their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Price Performance

Shares of ONTO opened at $135.73 on Friday. The firm’s 50 day moving average is $171.89 and its 200-day moving average is $180.58. The stock has a market capitalization of $6.69 billion, a P/E ratio of 33.43, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities research analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the sale, the chief executive officer now owns 185,492 shares in the company, valued at $39,183,330.08. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. 0.72% of the stock is owned by company insiders.

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.