Onto Innovation Inc. (NYSE:ONTO) Stake Trimmed by Brown Advisory Inc.

Brown Advisory Inc. decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,104 shares of the semiconductor company's stock after selling 9,281 shares during the quarter. Brown Advisory Inc. owned about 0.06% of Onto Innovation worth $3,774,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ONTO. Johnson Financial Group Inc. bought a new stake in shares of Onto Innovation during the fourth quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Onto Innovation during the fourth quarter valued at about $47,000. Versant Capital Management Inc raised its stake in shares of Onto Innovation by 165.0% during the first quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 386 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Onto Innovation by 73.0% during the fourth quarter. Huntington National Bank now owns 732 shares of the semiconductor company's stock valued at $122,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ONTO. Benchmark cut their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the company a "hold" rating in a research note on Tuesday, May 20th. Needham & Company LLC dropped their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Oppenheimer dropped their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Cantor Fitzgerald dropped their price target on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $141.67.

Onto Innovation Stock Down 1.0%

Onto Innovation stock traded down $1.02 during midday trading on Friday, hitting $101.85. The company's stock had a trading volume of 665,065 shares, compared to its average volume of 982,575. The stock's 50-day moving average price is $99.76 and its 200-day moving average price is $136.17. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $238.93. The company has a market capitalization of $4.97 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45.

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