Onto Innovation Inc. $ONTO Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 46.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,600 shares of the semiconductor company’s stock after selling 38,000 shares during the period. Swedbank AB’s holdings in Onto Innovation were worth $9,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stephens Inc. AR acquired a new stake in Onto Innovation during the 1st quarter worth about $219,000. Stephens Investment Management Group LLC acquired a new position in shares of Onto Innovation in the first quarter worth about $27,760,000. K.J. Harrison & Partners Inc purchased a new position in shares of Onto Innovation in the first quarter worth approximately $820,000. Praxis Investment Management Inc. raised its holdings in shares of Onto Innovation by 6.9% during the first quarter. Praxis Investment Management Inc. now owns 1,667 shares of the semiconductor company’s stock valued at $342,000 after acquiring an additional 107 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Onto Innovation in the 1st quarter valued at approximately $202,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 1.4%

NYSE:ONTO traded up $4.51 during mid-day trading on Friday, hitting $321.53. 903,338 shares of the company’s stock traded hands, compared to its average volume of 1,417,770. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 150.25, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55. The firm has a 50 day moving average of $294.75 and a two-hundred day moving average of $241.98. Onto Innovation Inc. has a 12 month low of $89.40 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 earnings per share. As a group, equities research analysts expect that Onto Innovation Inc. will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research analyst reports. B. Riley Financial lifted their price objective on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Stifel Nicolaus set a $350.00 price target on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald boosted their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Morgan Stanley began coverage on shares of Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $339.60.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.