Commonwealth Equity Services LLC Sells 180 Shares of Onto Innovation Inc. (NYSE:ONTO)

Commonwealth Equity Services LLC decreased its holdings in Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,847 shares of the semiconductor company’s stock after selling 180 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Onto Innovation were worth $942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONTO. LPL Financial LLC grew its stake in shares of Onto Innovation by 27.8% during the fourth quarter. LPL Financial LLC now owns 21,743 shares of the semiconductor company’s stock worth $1,501,000 after purchasing an additional 4,735 shares during the period. TD Asset Management Inc grew its stake in Onto Innovation by 17.1% in the fourth quarter. TD Asset Management Inc now owns 34,282 shares of the semiconductor company’s stock valued at $2,334,000 after acquiring an additional 5,000 shares during the period. South Street Advisors LLC grew its stake in Onto Innovation by 5.1% in the fourth quarter. South Street Advisors LLC now owns 116,314 shares of the semiconductor company’s stock valued at $7,920,000 after acquiring an additional 5,676 shares during the period. Ellevest Inc. grew its stake in Onto Innovation by 232.0% in the fourth quarter. Ellevest Inc. now owns 415 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 290 shares during the period. Finally, EFG Asset Management North America Corp. grew its stake in Onto Innovation by 8.3% in the fourth quarter. EFG Asset Management North America Corp. now owns 30,685 shares of the semiconductor company’s stock valued at $2,109,000 after acquiring an additional 2,350 shares during the period. Institutional investors own 93.59% of the company’s stock.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on Onto Innovation from $75.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 10th. StockNews.com initiated coverage on Onto Innovation in a research report on Thursday, May 18th. They set a “hold” rating for the company. DA Davidson upped their price objective on Onto Innovation from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Benchmark reaffirmed a “buy” rating and set a $92.00 price objective (up from $85.00) on shares of Onto Innovation in a research report on Friday, February 10th. Finally, Jefferies Financial Group initiated coverage on Onto Innovation in a research report on Thursday, April 20th. They set a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $96.80.

Insider Transactions at Onto Innovation

In other news, SVP Robert Fiordalice sold 669 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $93.15, for a total transaction of $62,317.35. Following the transaction, the senior vice president now owns 15,920 shares in the company, valued at $1,482,948. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Onto Innovation Stock Performance

ONTO opened at $99.98 on Tuesday. The business’s 50-day simple moving average is $85.58 and its 200 day simple moving average is $80.51. The firm has a market capitalization of $4.89 billion, a PE ratio of 24.93 and a beta of 1.46. Onto Innovation Inc. has a 52-week low of $56.02 and a 52-week high of $101.57.

Onto Innovation (NYSE:ONTO – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $199.17 million for the quarter, compared to analyst estimates of $200.00 million. Onto Innovation had a return on equity of 16.09% and a net margin of 20.67%. The business’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, research analysts forecast that Onto Innovation Inc. will post 3.65 earnings per share for the current year.

About Onto Innovation

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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.