Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,966 shares of the semiconductor company's stock after selling 15,114 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.08% of Onto Innovation worth $6,828,000 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. Kestra Investment Management LLC acquired a new stake in Onto Innovation during the 4th quarter worth $26,000. Mather Group LLC. boosted its stake in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 111 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Onto Innovation during the 4th quarter worth $38,000. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation during the 4th quarter worth $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Onto Innovation during the 4th quarter worth $47,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of several analyst reports. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Saturday. Needham & Company LLC reduced their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group reduced their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Stifel Nicolaus reduced their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and an average price target of $177.14.

Onto Innovation Trading Up 1.3%

ONTO traded up $1.25 on Friday, hitting $99.29. The company had a trading volume of 1,140,537 shares, compared to its average volume of 897,857. The firm has a market cap of $4.85 billion, a P/E ratio of 24.46, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $238.93. The company's fifty day moving average price is $120.86 and its 200 day moving average price is $156.41.

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

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.