TimesSquare Capital Management LLC Decreases Position in Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC decreased its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 198,418 shares of the semiconductor company's stock after selling 93,218 shares during the period. TimesSquare Capital Management LLC owned about 0.40% of Onto Innovation worth $30,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Onto Innovation by 72.3% during the 3rd quarter. Raymond James & Associates now owns 5,724 shares of the semiconductor company's stock valued at $730,000 after buying an additional 2,401 shares in the last quarter. Advisor Partners II LLC boosted its holdings in shares of Onto Innovation by 131.8% in the third quarter. Advisor Partners II LLC now owns 6,216 shares of the semiconductor company's stock worth $793,000 after acquiring an additional 3,534 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Onto Innovation in the third quarter valued at $219,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Onto Innovation during the 3rd quarter valued at $8,669,000. Finally, TIAA Trust National Association purchased a new stake in Onto Innovation during the 3rd quarter worth about $446,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $4.95 during midday trading on Wednesday, hitting $206.18. The company had a trading volume of 379,969 shares, compared to its average volume of 433,174. The company has a 50 day moving average of $185.56 and a 200 day moving average of $160.96. The stock has a market capitalization of $10.13 billion, a P/E ratio of 83.81 and a beta of 1.40. Onto Innovation Inc. has a 52-week low of $84.63 and a 52-week high of $213.47.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same period in the previous year, the business earned $1.57 EPS. The company's quarterly revenue was down 13.5% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ONTO. Stifel Nicolaus raised their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a report on Monday, March 25th. B. Riley lifted their price target on Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Benchmark upped their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. Finally, Evercore ISI initiated coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They issued an "outperform" rating and a $235.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Insider Buying and Selling

In related news, Director David Brian Miller sold 2,800 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now owns 14,913 shares of the company's stock, valued at $2,684,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company's stock, valued at $1,535,773.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is owned by company insiders.

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.

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