Forum Financial Management LP decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO – Free Report) by 12.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,979 shares of the semiconductor company’s stock after selling 273 shares during the period. Forum Financial Management LP’s holdings in Onto Innovation were worth $411,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. lifted its position in Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after acquiring an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the period. Nordea Investment Management AB lifted its position in Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after acquiring an additional 15,451 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after acquiring an additional 33,025 shares during the period. Finally, Sei Investments Co. lifted its position in Onto Innovation by 15.1% during the 1st quarter. Sei Investments Co. now owns 143,628 shares of the semiconductor company’s stock valued at $26,008,000 after acquiring an additional 18,843 shares during the period. Institutional investors own 98.35% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday. Finally, Needham & Company LLC decreased their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.29.
Insider Activity at Onto Innovation
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 transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.
Onto Innovation Stock Down 1.8 %
ONTO opened at $172.95 on Tuesday. The firm has a 50 day moving average price of $201.79 and a 200-day moving average price of $206.82. Onto Innovation Inc. has a twelve month low of $117.44 and a twelve month high of $238.93. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 1.28 and a beta of 1.37.
Onto Innovation (NYSE:ONTO – Get Free Report) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share. As a group, analysts expect that Onto Innovation Inc. will post 5.18 earnings per share for the current year.
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.
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