Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 711,341 shares of the semiconductor company’s stock after selling 57,080 shares during the period. Fisher Asset Management LLC owned about 1.44% of Onto Innovation worth $147,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC raised its position in Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares during the period. Congress Asset Management Co. lifted its position in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Citigroup Inc. boosted its holdings in Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after acquiring an additional 284,115 shares during the period. Natixis Advisors LLC grew its position in Onto Innovation by 379.8% in the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after acquiring an additional 194,056 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 28.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after purchasing an additional 189,769 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ONTO. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer increased their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 7.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $165.19 on Tuesday. The stock has a 50-day simple moving average of $193.69 and a 200 day simple moving average of $204.49. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 44.77, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

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.