Onto Innovation Inc. (NYSE:ONTO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,707 shares of the semiconductor company’s stock after selling 635 shares during the period. PNC Financial Services Group Inc.’s holdings in Onto Innovation were worth $692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Onto Innovation in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 108 shares in the last quarter. Larson Financial Group LLC increased its holdings in Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 259 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at $38,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

NYSE:ONTO opened at $110.20 on Wednesday. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $228.42. The firm has a 50-day moving average of $98.83 and a two-hundred day moving average of $121.56. The stock has a market cap of $5.40 billion, a P/E ratio of 27.28, a PEG ratio of 0.70 and a beta of 1.44.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a return on equity of 14.38% and a net margin of 19.29%. The company had revenue of $253.60 million for the quarter, compared to the consensus estimate of $250.56 million. During the same period in the previous year, the business posted $1.32 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ONTO shares. Benchmark lowered their price target on Onto Innovation from $190.00 to $160.00 and set a “buy” rating for the company in a report on Friday, August 8th. Oppenheimer decreased 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. Cantor Fitzgerald decreased their price objective on shares of Onto Innovation from $110.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, June 24th. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Onto Innovation 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.