First Trust Advisors LP Sells 12,978 Shares of Onto Innovation Inc. $ONTO

First Trust Advisors LP decreased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,953 shares of the semiconductor company's stock after selling 12,978 shares during the quarter. First Trust Advisors LP owned approximately 0.33% of Onto Innovation worth $33,212,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of Onto Innovation by 361.2% during the fourth quarter. CWM LLC now owns 20,068 shares of the semiconductor company's stock valued at $3,168,000 after acquiring an additional 15,717 shares during the period. M&T Bank Corp grew its holdings in shares of Onto Innovation by 11,228.9% in the 4th quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company's stock worth $53,848,000 after purchasing an additional 338,101 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in shares of Onto Innovation in the 4th quarter worth about $1,583,000. Allspring Global Investments Holdings LLC increased its position in shares of Onto Innovation by 148.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company's stock worth $45,052,000 after purchasing an additional 162,433 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Onto Innovation by 27.9% during the 4th quarter. Retirement Systems of Alabama now owns 75,808 shares of the semiconductor company's stock worth $11,967,000 after purchasing an additional 16,559 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONTO has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Morgan Stanley began coverage on shares of Onto Innovation in a report on Sunday, June 14th. They set an "overweight" rating and a $371.00 price objective for the company. Freedom Capital upgraded shares of Onto Innovation to a "strong-buy" rating in a research note on Wednesday, June 17th. B. Riley Financial boosted their target price on Onto Innovation from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Finally, Zacks Research upgraded Onto Innovation from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $339.60.

Onto Innovation Stock Performance

Shares of ONTO opened at $241.65 on Wednesday. The business's fifty day moving average price is $296.39 and its two-hundred day moving average price is $252.63. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 112.92, a PEG ratio of 1.07 and a beta of 1.55. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $386.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The firm's quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current year.

About Onto Innovation

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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