Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,057 shares of the semiconductor company's stock after selling 18,000 shares during the period. Impax Asset Management Group plc owned approximately 0.15% of Onto Innovation worth $8,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Onto Innovation during the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new position in Onto Innovation during the 4th quarter worth about $43,000. Aster Capital Management DIFC Ltd acquired a new position in Onto Innovation during the 4th quarter worth about $47,000. Finally, Versant Capital Management Inc lifted its stake 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 acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Down 1.7%

NYSE:ONTO traded down $1.77 during mid-day trading on Friday, hitting $101.63. The stock had a trading volume of 698,963 shares, compared to its average volume of 975,710. The stock has a 50-day simple moving average of $101.89 and a two-hundred day simple moving average of $138.57. The company has a market capitalization of $4.96 billion, a PE ratio of 22.99, a PEG ratio of 0.68 and a beta of 1.45. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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 business had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. During the same period last year, the business earned $1.18 EPS. The company's revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Needham & Company LLC reduced 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. Stifel Nicolaus reduced their target price 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. Cantor Fitzgerald reduced their target price on shares of Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Benchmark reduced their target price on shares of Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $141.67.

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.