Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,582 shares of the semiconductor company's stock after selling 2,784 shares during the period. Harbor Capital Advisors Inc.'s holdings in Onto Innovation were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Onto Innovation during the fourth quarter valued at $87,987,000. Artisan Partners Limited Partnership grew its holdings in Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after acquiring an additional 444,860 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Onto Innovation by 72.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock valued at $145,045,000 after purchasing an additional 364,853 shares during the period. Invesco Ltd. raised its holdings in shares of Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after purchasing an additional 356,161 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Down 0.1%

Shares of Onto Innovation stock traded down $0.07 during trading on Thursday, reaching $99.87. The company's stock had a trading volume of 1,003,943 shares, compared to its average volume of 956,804. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The company has a 50-day simple moving average of $108.55 and a two-hundred day simple moving average of $146.81. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 0.89 and a beta of 1.46.

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 the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. During the same quarter last year, the company earned $1.18 earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. As a group, analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONTO. 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 target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $135.00 price target (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Stifel Nicolaus decreased their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Oppenheimer dropped their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $167.86.

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.