Envestnet Asset Management Inc. Sells 29,332 Shares of Onto Innovation Inc. (NYSE:ONTO)

Envestnet Asset Management Inc. decreased its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,127 shares of the semiconductor company's stock after selling 29,332 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Onto Innovation worth $13,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after acquiring an additional 76,233 shares during the period. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after purchasing an additional 183,839 shares during the period. Franklin Resources Inc. boosted its stake in Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after purchasing an additional 271,470 shares during the period. Artisan Partners Limited Partnership grew its holdings in Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after buying an additional 444,860 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position in shares of Onto Innovation by 7.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company's stock valued at $168,452,000 after buying an additional 71,050 shares during the period. Institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective 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. Jefferies Financial Group cut their price target on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Benchmark reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Oppenheimer decreased their target price on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $218.13.

Onto Innovation Stock Performance

ONTO traded up $2.01 during trading on Tuesday, reaching $114.16. The stock had a trading volume of 638,987 shares, compared to its average volume of 793,441. The business has a 50-day moving average of $133.60 and a 200-day moving average of $167.77. Onto Innovation Inc. has a one year low of $98.21 and a one year high of $238.93. The stock has a market cap of $5.58 billion, a PE ratio of 28.12, a PEG ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Equities research analysts forecast that Onto Innovation Inc. will post 6.26 EPS 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.