Bank of New York Mellon Corp Sells 32,988 Shares of Onto Innovation Inc. $ONTO

Bank of New York Mellon Corp reduced its holdings in Onto Innovation Inc. (NYSE:ONTO) by 5.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 567,805 shares of the semiconductor company’s stock after selling 32,988 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of Onto Innovation worth $116,440,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Eagle Rock Investment Company LLC raised its holdings in shares of Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock valued at $1,584,000 after purchasing an additional 5,000 shares during the period. CWM LLC grew its stake in shares of Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock valued at $3,168,000 after buying an additional 15,717 shares during the period. M&T Bank Corp grew its stake in shares of Onto Innovation by 11,228.9% in the 4th quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock valued at $53,848,000 after buying an additional 338,101 shares during the period. Fideuram Asset Management Ireland dac bought a new stake in Onto Innovation in the 4th quarter valued at about $1,583,000. Finally, Allspring Global Investments Holdings LLC increased its position in Onto Innovation by 148.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 271,610 shares of the semiconductor company’s stock valued at $45,052,000 after buying an additional 162,433 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

ONTO has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. Jefferies Financial Group restated a “buy” rating and set a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Weiss Ratings raised Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Cantor Fitzgerald increased their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Freedom Capital raised shares of Onto Innovation to a “strong-buy” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $339.60.

Onto Innovation Stock Down 0.5%

Shares of NYSE:ONTO opened at $278.45 on Tuesday. The business’s 50 day moving average is $295.27 and its 200 day moving average is $248.20. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $386.46. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 130.12, a PEG ratio of 1.14 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period in the previous year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Onto Innovation Company Profile

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.