Pathstone Holdings LLC Sells 855 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pathstone Holdings LLC trimmed its position in Onto Innovation Inc. (NYSE:ONTO) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,124 shares of the semiconductor company’s stock after selling 855 shares during the quarter. Pathstone Holdings LLC’s holdings in Onto Innovation were worth $5,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Braun Stacey Associates Inc. bought a new stake in Onto Innovation in the 3rd quarter worth approximately $22,949,000. Vaughan Nelson Investment Management L.P. increased its position in Onto Innovation by 42.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 288,215 shares of the semiconductor company’s stock worth $59,821,000 after purchasing an additional 85,790 shares during the last quarter. Natixis Advisors LLC raised its stake in Onto Innovation by 3.4% during the third quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock valued at $52,637,000 after purchasing an additional 8,456 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Onto Innovation by 32.6% during the third quarter. OneDigital Investment Advisors LLC now owns 2,041 shares of the semiconductor company’s stock valued at $424,000 after purchasing an additional 502 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of Onto Innovation in the 3rd quarter worth $11,893,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 0.2 %

Shares of Onto Innovation stock opened at $166.25 on Friday. The stock’s fifty day moving average is $194.17 and its two-hundred day moving average is $204.85. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93. The company has a market capitalization of $8.21 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the prior year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ONTO. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer raised their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC cut their target price 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. Finally, 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 research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

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.