Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 25.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,699 shares of the semiconductor company's stock after selling 101,272 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.62% of Onto Innovation worth $37,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 151 shares during the period. Johnson Financial Group Inc. acquired a new stake in Onto Innovation in the fourth quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation in the 4th quarter valued at approximately $43,000. Aster Capital Management DIFC Ltd purchased a new stake in Onto Innovation in the 4th quarter valued at approximately $47,000. Finally, Versant Capital Management Inc increased its position in Onto Innovation by 165.0% during the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 386 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 0.9%

Shares of NYSE:ONTO traded down $0.90 during midday trading on Thursday, hitting $102.49. 698,898 shares of the stock were exchanged, compared to its average volume of 971,199. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93. The company has a 50 day moving average price of $102.84 and a 200-day moving average price of $139.75. The stock has a market cap of $5.01 billion, a P/E ratio of 23.19, a PEG ratio of 0.65 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.04. Onto Innovation had a net margin of 21.36% and a return on equity of 14.85%. The company had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. During the same quarter in the previous year, the business posted $1.18 earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ONTO shares. Oppenheimer reduced their price target on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Benchmark reduced their target price on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the company a "hold" rating in a report on Tuesday, May 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.67.

Onto Innovation Company 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.