Osterweis Capital Management Inc. Cuts Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Osterweis Capital Management Inc. reduced its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 20.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,647 shares of the semiconductor company's stock after selling 8,050 shares during the quarter. Osterweis Capital Management Inc. owned about 0.06% of Onto Innovation worth $5,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. Vanguard Group Inc. increased its position in Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after acquiring an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after purchasing an additional 183,839 shares during the last quarter. Franklin Resources Inc. raised its position 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 lifted its stake in Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Onto Innovation by 33.9% during the fourth quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after buying an additional 356,161 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 2.9 %

Shares of ONTO stock traded up $3.24 during trading hours on Tuesday, reaching $115.39. 183,099 shares of the company's stock were exchanged, compared to its average volume of 790,517. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The stock's 50 day moving average is $134.79 and its 200-day moving average is $168.14. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 28.39, a P/E/G 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 net margin of 20.43% and a return on equity of 14.24%. Equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONTO. Jefferies Financial Group decreased their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Benchmark reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $218.13.

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.