Two Sigma Investments LP Sells 17,491 Shares of Onto Innovation Inc. (NYSE:ONTO)

Two Sigma Investments LP lessened its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 90.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,909 shares of the semiconductor company's stock after selling 17,491 shares during the period. Two Sigma Investments LP's holdings in Onto Innovation were worth $318,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ONTO. Commonwealth Equity Services LLC boosted its holdings in Onto Innovation by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after acquiring an additional 225 shares during the last quarter. Truist Financial Corp lifted its position in shares of Onto Innovation by 35.6% in the 4th quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company's stock worth $268,000 after purchasing an additional 421 shares during the period. LPL Financial LLC lifted its position in shares of Onto Innovation by 35.3% in the 4th quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company's stock worth $5,945,000 after purchasing an additional 9,310 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Down 5.2%

Shares of ONTO stock traded down $5.22 during trading on Friday, reaching $94.78. 1,369,968 shares of the company's stock traded hands, compared to its average volume of 958,449. The company has a market capitalization of $4.63 billion, a P/E ratio of 23.34, a PEG ratio of 0.89 and a beta of 1.46. The firm's 50-day moving average is $108.32 and its 200 day moving average is $146.36. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.04. The business had revenue of $267.00 million for the quarter, compared to analysts' expectations of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS. As a group, sell-side analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ONTO shares. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Cantor Fitzgerald restated a "neutral" rating and set a $135.00 price target (down from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Wall Street Zen raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Oppenheimer dropped their target price 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. Finally, Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.86.

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.