Bank of New York Mellon Corp Sells 472 Shares of Onto Innovation Inc. (NYSE:ONTO)

Bank of New York Mellon Corp decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 0.1% during the 3rd quarter, Holdings Channel reports. The firm owned 538,839 shares of the semiconductor company’s stock after selling 472 shares during the quarter. Bank of New York Mellon Corp’s holdings in Onto Innovation were worth $34,513,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC acquired a new position in Onto Innovation in the third quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new position in shares of Onto Innovation during the 2nd quarter valued at $52,000. Quadrant Capital Group LLC boosted its stake in Onto Innovation by 19.8% during the second quarter. Quadrant Capital Group LLC now owns 791 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 131 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Onto Innovation in the second quarter worth $70,000. Finally, Stephens Inc. AR grew its holdings in Onto Innovation by 67.2% in the third quarter. Stephens Inc. AR now owns 1,244 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Onto Innovation Trading Down 0.3 %

Shares of NYSE:ONTO opened at $80.40 on Tuesday. Onto Innovation Inc. has a 1-year low of $56.02 and a 1-year high of $92.76. The stock has a market cap of $3.92 billion, a PE ratio of 17.91 and a beta of 1.46. The stock’s fifty day simple moving average is $79.63 and its two-hundred day simple moving average is $73.99.

Onto Innovation (NYSE:ONTO – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The semiconductor company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.23. The company had revenue of $253.27 million for the quarter, compared to analyst estimates of $252.80 million. Onto Innovation had a net margin of 22.22% and a return on equity of 17.82%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. On average, sell-side analysts forecast that Onto Innovation Inc. will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONTO. Benchmark reiterated a “buy” rating and set a $92.00 price objective (up previously from $85.00) on shares of Onto Innovation in a report on Friday, February 10th. StockNews.com raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, January 16th. Needham & Company LLC upped their target price on Onto Innovation from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. DA Davidson lifted their price target on shares of Onto Innovation from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, February 10th. Finally, B. Riley upped their price objective on shares of Onto Innovation from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $96.00.

Onto Innovation Company Profile

(Get Rating)

Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.