Emerald Mutual Fund Advisers Trust Sells 44,309 Shares of Onto Innovation Inc. (NYSE:ONTO)

Emerald Mutual Fund Advisers Trust lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 43.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,115 shares of the semiconductor company’s stock after selling 44,309 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.12% of Onto Innovation worth $12,062,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ONTO. VELA Investment Management LLC raised its position in shares of Onto Innovation by 85.9% during the third quarter. VELA Investment Management LLC now owns 3,128 shares of the semiconductor company’s stock valued at $649,000 after buying an additional 1,445 shares during the last quarter. Silvant Capital Management LLC bought a new stake in Onto Innovation in the 3rd quarter valued at $1,016,000. Stephens Inc. AR lifted its stake in Onto Innovation by 25.8% in the 3rd quarter. Stephens Inc. AR now owns 1,391 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 285 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Onto Innovation by 185.4% during the 3rd quarter. US Bancorp DE now owns 12,612 shares of the semiconductor company’s stock valued at $2,618,000 after purchasing an additional 8,193 shares during the last quarter. Finally, Congress Asset Management Co. boosted its holdings in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 11.2 %

ONTO stock opened at $176.10 on Friday. Onto Innovation Inc. has a twelve month low of $115.07 and a twelve month high of $238.93. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The firm’s fifty day simple moving average is $202.50 and its two-hundred day simple moving average is $206.68.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The company had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period in the prior year, the firm posted $0.96 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several research reports. Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus lifted their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.29.

About Onto Innovation

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.