Onto Innovation Inc. (NYSE:ONTO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 13.4% during the 3rd quarter, Holdings Channel reports. The fund owned 104,581 shares of the semiconductor company’s stock after selling 16,140 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Onto Innovation were worth $21,707,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quarry LP boosted its holdings in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. LGT Financial Advisors LLC grew its position in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 90 shares during the period. Fifth Third Bancorp increased its stake in Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Onto Innovation during the third quarter worth $65,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ONTO shares. Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Activity

In related 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 transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 0.1 %

Shares of ONTO stock opened at $176.04 on Monday. The firm has a 50 day moving average of $199.08 and a two-hundred day moving average of $206.69. The stock has a market capitalization of $8.69 billion, a PE ratio of 47.71, a P/E/G ratio of 1.13 and a beta of 1.37. Onto Innovation Inc. has a 52 week low of $118.90 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

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.