Onto Innovation Inc. $ONTO Shares Sold by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC cut its Onto Innovation stake by 30.9% in the first quarter, selling 123,516 shares and retaining 275,689 shares valued at approximately $56.5 million.
• Onto Innovation reported quarterly EPS of $1.42, beating estimates of $1.38, while revenue rose 9.5% year over year to $291.95 million. Analysts expect full-year EPS of $7.14.
• Despite a recent “hold” downgrade, analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $339.60 versus the stock’s quoted $257.81 price.

Segall Bryant & Hamill LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 30.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,689 shares of the semiconductor company's stock after selling 123,516 shares during the period. Onto Innovation comprises approximately 0.7% of Segall Bryant & Hamill LLC's holdings, making the stock its 14th largest position. Segall Bryant & Hamill LLC owned about 0.55% of Onto Innovation worth $56,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Parallel Advisors LLC lifted its holdings in shares of Onto Innovation by 16.5% in the 1st quarter. Parallel Advisors LLC now owns 395 shares of the semiconductor company's stock valued at $81,000 after buying an additional 56 shares during the period. Kestra Advisory Services LLC lifted its holdings in Onto Innovation by 4.9% in the first quarter. Kestra Advisory Services LLC now owns 1,368 shares of the semiconductor company's stock valued at $281,000 after acquiring an additional 64 shares during the period. Root Financial Partners LLC lifted its holdings in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 74 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Onto Innovation by 8.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,165 shares of the semiconductor company's stock worth $186,000 after purchasing an additional 92 shares in the last quarter. Finally, Millstone Evans Group LLC grew its stake in shares of Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Up 2.9%

Shares of ONTO opened at $257.81 on Friday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock has a market cap of $12.82 billion, a P/E ratio of 120.47, a PEG ratio of 1.02 and a beta of 1.55. The company has a 50-day moving average of $295.17 and a two-hundred day moving average of $253.36.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same period in the prior year, the business earned $1.51 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen cut shares of Onto Innovation from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $350.00 target price on shares of Onto Innovation in a report on Wednesday, May 6th. Cantor Fitzgerald lifted their price target on shares of Onto Innovation from $350.00 to $410.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Evercore reissued an "outperform" rating and set a $315.00 price target on shares of Onto Innovation in a research note on Friday, April 17th. Finally, Oppenheimer upped their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $339.60.

About Onto Innovation

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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