Blueshift Asset Management LLC Lowers Holdings in Onto Innovation Inc. (NYSE:ONTO)

Blueshift Asset Management LLC reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,528 shares of the semiconductor company’s stock after selling 525 shares during the period. Blueshift Asset Management LLC’s holdings in Onto Innovation were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its stake in Onto Innovation by 5.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,817 shares of the semiconductor company’s stock valued at $691,000 after purchasing an additional 212 shares in the last quarter. LRI Investments LLC purchased a new position in Onto Innovation in the 1st quarter worth approximately $95,000. Swedbank AB bought a new position in Onto Innovation in the 1st quarter valued at approximately $2,390,000. GAMMA Investing LLC boosted its stake in Onto Innovation by 46.2% during the 2nd quarter. GAMMA Investing LLC now owns 427 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 135 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in shares of Onto Innovation in the 2nd quarter worth $901,000. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 1.1 %

Shares of NYSE ONTO opened at $161.04 on Thursday. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 43.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The firm has a 50 day moving average of $192.57 and a 200 day moving average of $203.76.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.