Harvest Fund Management Co. Ltd lowered its position in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,866 shares of the semiconductor company’s stock after selling 848 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $333,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Onto Innovation by 51.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 175 shares during the period. Point72 Hong Kong Ltd acquired a new position in Onto Innovation in the 2nd quarter valued at approximately $52,000. CoreCap Advisors LLC acquired a new position in Onto Innovation in the 4th quarter valued at approximately $68,000. Tower Research Capital LLC TRC raised its holdings in shares of Onto Innovation by 51.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,221 shares of the semiconductor company’s stock worth $107,000 after buying an additional 414 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Onto Innovation by 1,909.5% in the 1st quarter. Covestor Ltd now owns 1,266 shares of the semiconductor company’s stock worth $110,000 after buying an additional 1,203 shares in the last quarter. Institutional investors own 94.78% of the company’s stock.
Insider Activity at Onto Innovation
In related news, SVP Srinivas Vedula sold 1,469 shares of Onto Innovation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $137.00, for a total value of $201,253.00. Following the sale, the senior vice president now owns 17,976 shares of the company’s stock, valued at $2,462,712. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael P. Plisinski sold 31,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $112.85, for a total value of $3,498,350.00. Following the transaction, the chief executive officer now owns 251,794 shares of the company’s stock, valued at $28,414,952.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 1,469 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $137.00, for a total value of $201,253.00. Following the completion of the transaction, the senior vice president now directly owns 17,976 shares in the company, valued at approximately $2,462,712. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.
Onto Innovation Price Performance
Onto Innovation (NYSE:ONTO – Get Free Report) last released its quarterly earnings results on Thursday, August 10th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.04). The firm had revenue of $190.66 million during the quarter, compared to analyst estimates of $203.00 million. Onto Innovation had a net margin of 19.32% and a return on equity of 14.20%. The business’s revenue for the quarter was down 25.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 3.64 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ONTO has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price target on Onto Innovation from $124.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Needham & Company LLC lowered Onto Innovation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. StockNews.com began coverage on Onto Innovation in a research report on Thursday, August 17th. They set a “hold” rating on the stock. B. Riley increased their price objective on Onto Innovation from $135.00 to $140.00 in a research report on Monday, July 17th. Finally, Benchmark raised their price target on Onto Innovation from $118.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.33.
About Onto Innovation
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 optical metrology, macro-defect inspection, packaging lithography, 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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