Vanguard Group Inc. Sells 5,881 Shares of Onto Innovation Inc. $ONTO

Vanguard Group Inc. lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 0.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,160,256 shares of the semiconductor company's stock after selling 5,881 shares during the period. Vanguard Group Inc. owned approximately 10.57% of Onto Innovation worth $626,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ONTO. Massachusetts Financial Services Co. MA raised its position in shares of Onto Innovation by 48.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,291,415 shares of the semiconductor company's stock valued at $156,700,000 after acquiring an additional 421,165 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation during the 1st quarter worth approximately $31,175,000. D. E. Shaw & Co. Inc. boosted its stake in Onto Innovation by 8,504.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,330 shares of the semiconductor company's stock worth $37,056,000 after purchasing an additional 219,746 shares during the period. Lazard Asset Management LLC lifted its stake in Onto Innovation by 80.9% in the 4th quarter. Lazard Asset Management LLC now owns 412,720 shares of the semiconductor company's stock valued at $68,786,000 after acquiring an additional 184,612 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Onto Innovation by 21,129.5% in the first quarter. GAMMA Investing LLC now owns 129,712 shares of the semiconductor company's stock worth $15,739,000 after purchasing an additional 129,101 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ONTO. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the stock a "hold" rating in a research report on Tuesday, May 20th. Oppenheimer dropped their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC lowered their price target on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, B. Riley dropped their price target on Onto Innovation from $160.00 to $145.00 and set a "buy" rating for the company in a report on Friday, August 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Onto Innovation Stock Up 1.5%

Shares of NYSE:ONTO traded up $1.66 during trading on Monday, hitting $108.61. 188,388 shares of the company were exchanged, compared to its average volume of 1,261,908. The company has a market capitalization of $5.32 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42. The business's 50 day moving average is $99.68 and its 200-day moving average is $119.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%. The firm had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. During the same quarter last year, the firm posted $1.32 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share 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.