Price T Rowe Associates Inc. MD Sells 277,677 Shares of Onto Innovation Inc. (NYSE:ONTO)

Price T Rowe Associates Inc. MD trimmed its stake in Onto Innovation Inc. (NYSE:ONTO) by 29.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669,202 shares of the semiconductor company’s stock after selling 277,677 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Onto Innovation were worth $121,180,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Onto Innovation during the 1st quarter valued at about $28,000. GAMMA Investing LLC acquired a new position in Onto Innovation during the 4th quarter valued at about $33,000. Rise Advisors LLC acquired a new position in Onto Innovation during the 1st quarter valued at about $38,000. Finally, Parallel Advisors LLC increased its position in Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 110 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Onto Innovation stock traded up $1.43 during midday trading on Monday, hitting $190.23. 195,263 shares of the company were exchanged, compared to its average volume of 519,707. The firm has a market capitalization of $9.37 billion, a PE ratio of 67.19 and a beta of 1.39. Onto Innovation Inc. has a fifty-two week low of $105.58 and a fifty-two week high of $238.93. The business has a fifty day simple moving average of $220.52 and a two-hundred day simple moving average of $194.88.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping the consensus estimate 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%. Onto Innovation’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. As a group, equities analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction that occurred 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 directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ONTO has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. Stifel Nicolaus increased their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. 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 note on Thursday, June 20th. Finally, Benchmark raised their price objective on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

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.