Onto Innovation Inc. (NYSE:ONTO) Stock Position Lowered by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lowered its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,935 shares of the semiconductor company’s stock after selling 19,470 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.17% of Onto Innovation worth $18,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONTO. Vanguard Group Inc. boosted its holdings in Onto Innovation by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after purchasing an additional 65,472 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Onto Innovation by 64.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after purchasing an additional 371,641 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Onto Innovation by 13.0% during the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock worth $129,143,000 after buying an additional 96,925 shares during the period. Hood River Capital Management LLC raised its holdings in Onto Innovation by 6.9% in the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after acquiring an additional 43,132 shares during the period. Finally, Norges Bank acquired a new position in Onto Innovation during the 4th quarter worth $89,785,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Up 2.1 %

Shares of ONTO stock opened at $213.39 on Friday. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 75.94 and a beta of 1.39. The firm’s 50 day moving average is $206.50 and its 200-day moving average is $200.46.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the company posted $0.79 EPS. The business’s quarterly revenue was up 27.1% on a year-over-year basis. On average, equities research analysts forecast that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mark Slicer sold 519 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ONTO. Stifel Nicolaus upped their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Jefferies Financial Group started coverage on shares of Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 target price for the company. B. Riley raised their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.00.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also 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.