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

Janney Montgomery Scott LLC decreased its holdings 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 and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONTO. Smartleaf Asset Management LLC lifted its holdings in Onto Innovation by 51.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company's stock valued at $92,000 after purchasing an additional 185 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Onto Innovation in the 4th quarter valued at $43,000. Charles Schwab Investment Management Inc. lifted its holdings in Onto Innovation by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,386 shares of the semiconductor company's stock valued at $56,899,000 after purchasing an additional 4,164 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Onto Innovation in the 4th quarter valued at $252,000. Finally, Arizona State Retirement System lifted its holdings in Onto Innovation by 1.0% in the 4th quarter. Arizona State Retirement System now owns 14,332 shares of the semiconductor company's stock valued at $2,389,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

Shares of ONTO stock traded down $5.23 during trading hours on Monday, hitting $98.81. The stock had a trading volume of 1,010,092 shares, compared to its average volume of 975,849. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93. The stock's 50 day moving average is $101.89 and its 200 day moving average is $138.37. The firm has a market capitalization of $4.83 billion, a PE ratio of 22.36, a PEG ratio of 0.68 and a beta of 1.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. Onto Innovation's revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ONTO. Cantor Fitzgerald reduced 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. Benchmark cut their price objective on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $110.00 price objective on Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Finally, Oppenheimer cut their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus 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.