Shell Asset Management Co. reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 12.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,327 shares of the semiconductor company’s stock after selling 1,381 shares during the period. Shell Asset Management Co.’s holdings in Onto Innovation were worth $810,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in Onto Innovation by 5.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,125 shares of the semiconductor company’s stock worth $519,000 after purchasing an additional 264 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Onto Innovation in the 4th quarter worth $8,990,000. Yousif Capital Management LLC purchased a new position in Onto Innovation in the 4th quarter worth $4,633,000. Xponance Inc. purchased a new position in Onto Innovation in the 4th quarter worth $233,000. Finally, Quadrant Capital Group LLC raised its position in Onto Innovation by 78.6% in the 4th quarter. Quadrant Capital Group LLC now owns 384 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 169 shares during the period. 94.34% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
ONTO has been the topic of a number of analyst reports. B. Riley decreased their target price on shares of Onto Innovation from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. DA Davidson restated a “buy” rating on shares of Onto Innovation in a research report on Wednesday, July 27th. Finally, Needham & Company LLC decreased their price objective on shares of Onto Innovation from $115.00 to $100.00 in a research report on Wednesday, May 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Buy” and an average target price of $110.00.
Onto Innovation Trading Up 1.2 %
Onto Innovation (NYSE:ONTO – Get Rating) last announced its earnings results on Tuesday, May 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.15. The firm had revenue of $241.35 million for the quarter, compared to analyst estimates of $232.00 million. Onto Innovation had a net margin of 19.93% and a return on equity of 15.81%. The company’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. Equities analysts predict that Onto Innovation Inc. will post 5.16 EPS for the current year.
Onto Innovation Profile
Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
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