Canandaigua National Bank & Trust Co. Trims Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Canandaigua National Bank & Trust Co. lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,327 shares of the semiconductor company’s stock after selling 85 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Onto Innovation were worth $240,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Pathstone Family Office LLC purchased a new position in shares of Onto Innovation during the third quarter worth approximately $340,000. Deutsche Bank AG raised its position in Onto Innovation by 12.4% during the 3rd quarter. Deutsche Bank AG now owns 29,849 shares of the semiconductor company’s stock valued at $3,806,000 after purchasing an additional 3,295 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Onto Innovation in the 3rd quarter worth $220,000. QRG Capital Management Inc. bought a new position in shares of Onto Innovation during the 3rd quarter worth $617,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Onto Innovation during the third quarter valued at $556,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 4.4 %

ONTO traded up $9.77 during midday trading on Tuesday, hitting $232.41. 420,635 shares of the company traded hands, compared to its average volume of 438,608. The business has a 50 day simple moving average of $207.57 and a two-hundred day simple moving average of $180.14. Onto Innovation Inc. has a 52-week low of $103.93 and a 52-week high of $238.13. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 79.22 and a beta of 1.43.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Equities research analysts anticipate that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective on the stock. Evercore ISI raised their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. B. Riley upped their target price on Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Stifel Nicolaus boosted their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.00.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders sold 42,005 shares of company stock worth $7,451,120 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Company 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.