Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 30.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 639 shares of the semiconductor company’s stock after selling 278 shares during the quarter. Farther Finance Advisors LLC’s holdings in Onto Innovation were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ONTO. Millennium Management LLC lifted its position in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after buying an additional 337,250 shares during the last quarter. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Natixis Advisors LLC increased its holdings in Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after buying an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after buying an additional 189,769 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Onto Innovation during the 3rd quarter worth about $30,418,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Down 0.8 %

Shares of ONTO opened at $174.61 on Tuesday. The stock has a market cap of $8.62 billion, a P/E ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The stock’s 50-day moving average price is $199.08 and its two-hundred day moving average price is $206.90. Onto Innovation Inc. has a 1 year low of $131.78 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share 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 13.38%. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts forecast that Onto Innovation Inc. will post 5.19 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONTO. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC reduced their target price 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, November 1st. Stifel Nicolaus increased their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Company 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.