Great Lakes Advisors LLC Decreases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Great Lakes Advisors LLC lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,432 shares of the semiconductor company’s stock after selling 22,163 shares during the period. Great Lakes Advisors LLC owned 0.20% of Onto Innovation worth $21,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. raised its stake in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock worth $425,000 after buying an additional 50 shares in the last quarter. Shaker Investments LLC OH boosted its position in shares of Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 64 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after buying an additional 84 shares during the period. GAMMA Investing LLC increased its stake in shares of Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its position in Onto Innovation by 0.5% during the 4th quarter. Natixis Advisors L.P. now owns 17,473 shares of the semiconductor company’s stock valued at $2,671,000 after acquiring an additional 90 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Onto Innovation stock traded down $10.36 during mid-day trading on Friday, reaching $177.30. 457,189 shares of the stock traded hands, compared to its average volume of 536,806. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93. The business’s 50-day moving average is $203.81 and its 200-day moving average is $200.95. The stock has a market capitalization of $8.74 billion, a PE ratio of 63.15 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same quarter last year, the firm posted $0.79 earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year. Equities analysts anticipate that Onto Innovation Inc. will post 5.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ONTO shares. Jefferies Financial Group initiated coverage on shares of Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. B. Riley increased their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Evercore ISI boosted their price target on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

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.