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

Tributary Capital Management LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 43.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,234 shares of the semiconductor company’s stock after selling 71,797 shares during the period. Tributary Capital Management LLC owned about 0.19% of Onto Innovation worth $16,883,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC purchased a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in shares of Onto Innovation in the 1st quarter valued at approximately $38,000. Finally, Parallel Advisors LLC grew its stake in shares of Onto Innovation by 43.0% in 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 during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of several analyst reports. Benchmark increased their price target on shares of Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, May 10th. B. Riley increased their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Stifel Nicolaus increased their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Evercore ISI increased their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Activity

In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of the business’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 in the company, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $220.86 on Tuesday. The company’s fifty day moving average price is $214.25 and its 200 day moving average price is $185.10. Onto Innovation Inc. has a 12 month low of $103.93 and a 12 month high of $238.13. The firm has a market capitalization of $10.88 billion, a P/E ratio of 77.86 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last announced its quarterly 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. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. During the same period last year, the business earned $0.92 EPS. Onto Innovation’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 5.05 EPS for the current year.

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.