Onto Innovation Inc. $ONTO Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 98.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 909 shares of the semiconductor company’s stock after selling 73,384 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Onto Innovation were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in Onto Innovation by 2,061.5% in the third quarter. Blue Trust Inc. now owns 281 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 268 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $37,000. Farther Finance Advisors LLC raised its position in shares of Onto Innovation by 76.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 320 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 139 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Onto Innovation during the third quarter worth $47,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Onto Innovation by 206.9% during the second quarter. EverSource Wealth Advisors LLC now owns 577 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Onto Innovation from $130.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $126.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 target price on shares of Onto Innovation in a report on Tuesday, December 16th. Finally, Evercore raised their price target on Onto Innovation from $115.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.75.

Onto Innovation Price Performance

ONTO opened at $208.81 on Friday. The stock’s 50 day moving average price is $180.28 and its 200 day moving average price is $141.11. The stock has a market cap of $10.23 billion, a P/E ratio of 58.99, a P/E/G ratio of 1.04 and a beta of 1.50. Onto Innovation Inc. has a 12 month low of $85.88 and a 12 month high of $227.07.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $218.19 million during the quarter, compared to analyst estimates of $220.23 million. Onto Innovation had a return on equity of 13.11% and a net margin of 17.46%.The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS. Equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.