Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 64.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,659 shares of the semiconductor company's stock after selling 3,004 shares during the period. Cerity Partners LLC's holdings in Onto Innovation were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONTO. Barclays PLC grew its stake in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after purchasing an additional 201,640 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of Onto Innovation by 6.4% during the third quarter. Morse Asset Management Inc now owns 16,749 shares of the semiconductor company's stock worth $3,476,000 after purchasing an additional 1,010 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Onto Innovation by 108.3% in the third quarter. Sanctuary Advisors LLC now owns 2,370 shares of the semiconductor company's stock valued at $492,000 after acquiring an additional 1,232 shares in the last quarter. Franklin Resources Inc. boosted its stake in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock valued at $288,320,000 after acquiring an additional 54,868 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Onto Innovation in the third quarter valued at $1,429,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on ONTO shares. Benchmark restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $218.13.

Onto Innovation Stock Down 2.4 %

NYSE ONTO traded down $2.99 during trading hours on Tuesday, hitting $121.74. 79,377 shares of the stock were exchanged, compared to its average volume of 797,495. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 12-month low of $98.21 and a 12-month high of $238.93. The stock has a 50-day moving average of $129.56 and a 200 day moving average of $165.04.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its 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%. On average, equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

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.