Value Aligned Research Advisors LLC Sells 62,676 Shares of Onto Innovation Inc. (NYSE:ONTO)

Value Aligned Research Advisors LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 25.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,351 shares of the semiconductor company's stock after selling 62,676 shares during the quarter. Onto Innovation accounts for approximately 7.9% of Value Aligned Research Advisors LLC's holdings, making the stock its 4th biggest holding. Value Aligned Research Advisors LLC owned about 0.37% of Onto Innovation worth $30,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Barclays PLC raised its position in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after purchasing an additional 201,640 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of Onto Innovation in the fourth quarter worth $217,000. UMB Bank n.a. raised its holdings in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after acquiring an additional 74 shares in the last quarter. Finally, Perpetual Ltd bought a new position in Onto Innovation during the 4th quarter valued at $232,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONTO shares. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Benchmark decreased their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Needham & Company LLC lowered their price objective on Onto Innovation from $230.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 9th. Cantor Fitzgerald restated a "neutral" rating and set a $135.00 price objective (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Finally, Oppenheimer decreased their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $167.86.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $2.46 during midday trading on Wednesday, hitting $93.59. The company's stock had a trading volume of 679,682 shares, compared to its average volume of 927,074. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93. The firm's fifty day moving average price is $114.26 and its 200-day moving average price is $151.60. The firm has a market cap of $4.57 billion, a P/E ratio of 23.05, a P/E/G ratio of 0.89 and a beta of 1.55.

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

Onto Innovation Company 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.