Norden Group LLC Sells 295 Shares of Onto Innovation Inc. (NYSE:ONTO)

Norden Group LLC reduced its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,067 shares of the semiconductor company’s stock after selling 295 shares during the period. Norden Group LLC’s holdings in Onto Innovation were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new position in shares of Onto Innovation in the first quarter worth approximately $217,000. GAMMA Investing LLC raised its holdings in Onto Innovation by 75.0% during the 1st quarter. GAMMA Investing LLC now owns 1,069 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 458 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Onto Innovation in the 1st quarter worth approximately $420,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Onto Innovation by 16.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,211 shares of the semiconductor company’s stock valued at $875,000 after purchasing an additional 1,013 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Onto Innovation by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 5,785 shares of the semiconductor company’s stock worth $701,000 after buying an additional 150 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Up 1.3%

Shares of ONTO stock opened at $102.27 on Thursday. The firm’s 50 day moving average is $98.08 and its 200 day moving average is $129.26. The stock has a market capitalization of $4.99 billion, a P/E ratio of 23.14, a PEG ratio of 0.66 and a beta of 1.45. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $228.42.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million for the quarter, compared to analysts’ expectations of $267.03 million. During the same quarter in the prior year, the firm posted $1.18 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ONTO. Oppenheimer reduced their price objective on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Stifel Nicolaus reduced their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Benchmark decreased their price target on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Jefferies Financial Group set a $110.00 price objective on shares of Onto Innovation and gave the company a “hold” rating in a report on Tuesday, May 20th. Finally, Cantor Fitzgerald reduced their target price on Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

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.