Emerald Advisers LLC Trims Stake in Onto Innovation Inc. (NYSE:ONTO)

Emerald Advisers LLC lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 43.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,192 shares of the semiconductor company’s stock after selling 54,225 shares during the quarter. Emerald Advisers LLC’s holdings in Onto Innovation were worth $14,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Onto Innovation during the first quarter worth about $28,000. LGT Financial Advisors LLC boosted its stake in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the 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 transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Onto Innovation Stock Down 11.2 %

Shares of NYSE ONTO traded down $22.23 during midday trading on Friday, hitting $176.10. The stock had a trading volume of 1,839,738 shares, compared to its average volume of 644,749. The company has a market cap of $8.70 billion, a P/E ratio of 47.72, a PEG ratio of 1.28 and a beta of 1.37. The business’s 50 day moving average is $202.50 and its 200-day moving average is $206.68. Onto Innovation Inc. has a 52 week low of $115.07 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The company had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ONTO. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday. Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.29.

About Onto Innovation

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.