Janney Montgomery Scott LLC Sells 3,838 Shares of Onto Innovation Inc. (NYSE:ONTO)

Janney Montgomery Scott LLC lowered its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 68.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,774 shares of the semiconductor company's stock after selling 3,838 shares during the period. Janney Montgomery Scott LLC's holdings in Onto Innovation were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONTO. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Onto Innovation in the 1st quarter valued at about $31,175,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Onto Innovation in the 1st quarter valued at about $1,524,000. Elevation Point Wealth Partners LLC lifted its stake in shares of Onto Innovation by 24.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,891 shares of the semiconductor company's stock valued at $351,000 after purchasing an additional 564 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Onto Innovation by 15.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 162,653 shares of the semiconductor company's stock valued at $19,736,000 after purchasing an additional 22,198 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in shares of Onto Innovation by 92.7% in the 1st quarter. Greenwood Capital Associates LLC now owns 3,070 shares of the semiconductor company's stock valued at $373,000 after purchasing an additional 1,477 shares during the period. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of several recent research reports. Benchmark cut their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Cantor Fitzgerald cut their price target on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Needham & Company LLC cut their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, 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 report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Trading Down 0.5%

Shares of ONTO stock traded down $0.55 during trading on Wednesday, hitting $102.79. The company's stock had a trading volume of 1,021,346 shares, compared to its average volume of 978,174. The company has a market cap of $5.02 billion, a PE ratio of 23.26, a P/E/G ratio of 0.64 and a beta of 1.45. The business has a fifty day moving average of $101.01 and a 200-day moving average of $137.65. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

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

Onto Innovation 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.