Two Sigma Investments LP Sells 17,491 Shares of Onto Innovation Inc. (NYSE:ONTO)

Two Sigma Investments LP cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 90.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,909 shares of the semiconductor company’s stock after selling 17,491 shares during the period. Two Sigma Investments LP’s holdings in Onto Innovation were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Bridge City Capital LLC raised its position in shares of Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after acquiring an additional 81 shares in the last quarter. Northwest & Ethical Investments L.P. raised its position in shares of Onto Innovation by 9.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 100 shares in the last quarter. Assetmark Inc. raised its position in shares of Onto Innovation by 0.3% in the 4th quarter. Assetmark Inc. now owns 40,882 shares of the semiconductor company’s stock worth $6,814,000 after acquiring an additional 109 shares in the last quarter. Finally, Hancock Whitney Corp raised its position in shares of Onto Innovation by 5.3% in the 4th quarter. Hancock Whitney Corp now owns 2,471 shares of the semiconductor company’s stock worth $412,000 after acquiring an additional 125 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO opened at $101.31 on Wednesday. The stock has a 50 day moving average price of $108.65 and a two-hundred day moving average price of $147.13. The firm has a market capitalization of $4.95 billion, a P/E ratio of 24.95, a P/E/G ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. On average, equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $135.00 target price (down from $250.00) on shares of Onto Innovation in a research report on Monday, May 5th. Oppenheimer decreased their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Wall Street Zen raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, Benchmark decreased their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.