Great Lakes Advisors LLC cut its holdings in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 25.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,345 shares of the semiconductor company’s stock after selling 56,898 shares during the quarter. Great Lakes Advisors LLC owned about 0.35% of Onto Innovation worth $19,840,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC raised its holdings in Onto Innovation by 16.2% during the 2nd quarter. CWM LLC now owns 646 shares of the semiconductor company’s stock worth $75,000 after buying an additional 90 shares during the period. First Republic Investment Management Inc. raised its holdings in Onto Innovation by 2.0% during the 4th quarter. First Republic Investment Management Inc. now owns 8,131 shares of the semiconductor company’s stock worth $554,000 after buying an additional 162 shares during the period. Public Employees Retirement System of Ohio raised its holdings 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 worth $33,000 after buying an additional 175 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Onto Innovation by 1.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 19,993 shares of the semiconductor company’s stock worth $1,361,000 after buying an additional 245 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Onto Innovation during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 94.78% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on ONTO shares. Stifel Nicolaus boosted their price objective on Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Benchmark reiterated a “buy” rating and issued a $145.00 target price on shares of Onto Innovation in a report on Friday, November 10th. Finally, StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $124.17.
Onto Innovation Price Performance
Shares of ONTO opened at $134.96 on Friday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 42.31 and a beta of 1.35. The business’s 50-day moving average is $125.92 and its 200-day moving average is $115.61. Onto Innovation Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $147.71.
Onto Innovation (NYSE:ONTO – Get Free Report) last announced its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $207.19 million during the quarter, compared to analysts’ expectations of $215.20 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.47%. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. Equities research analysts expect that Onto Innovation Inc. will post 3.63 earnings per share for the current fiscal year.
Insider Activity at Onto Innovation
In related news, CFO Mark Slicer sold 3,005 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $125.14, for a total value of $376,045.70. Following the completion of the sale, the chief financial officer now owns 13,111 shares of the company’s stock, valued at approximately $1,640,710.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Onto Innovation 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 transaction of $3,498,350.00. Following the completion of the sale, the chief executive officer now owns 251,794 shares of the company’s stock, valued at $28,414,952.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Slicer sold 3,005 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $125.14, for a total value of $376,045.70. Following the sale, the chief financial officer now directly owns 13,111 shares of the company’s stock, valued at approximately $1,640,710.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,523 shares of company stock valued at $4,958,113. 0.81% of the stock is owned by corporate insiders.
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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