Royce & Associates LP Sells 19,474 Shares of Onto Innovation Inc. (NYSE:ONTO)

Royce & Associates LP trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 223,158 shares of the semiconductor company’s stock after selling 19,474 shares during the quarter. Royce & Associates LP’s holdings in Onto Innovation were worth $46,319,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in shares of Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 50 shares in the last quarter. Magnetar Financial LLC boosted its position in Onto Innovation by 4.0% during the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 63 shares during the last quarter. Shaker Investments LLC OH boosted its position in Onto Innovation by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after acquiring an additional 64 shares during the last quarter. Quarry LP grew its stake in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its holdings in shares of Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 80 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC lowered their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $164.75 on Friday. The stock’s fifty day moving average price is $197.60 and its two-hundred day moving average price is $206.45. Onto Innovation Inc. has a one year low of $131.78 and a one year high of $238.93. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

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.