Quest Partners LLC Sells 1,506 Shares of Onto Innovation Inc. (NYSE:ONTO)

Quest Partners LLC decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 39.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the semiconductor company’s stock after selling 1,506 shares during the quarter. Quest Partners LLC’s holdings in Onto Innovation were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Congress Asset Management Co. increased its position in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Geneva Capital Management LLC increased its holdings in shares of Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after buying an additional 23,628 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Onto Innovation by 2.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock valued at $117,633,000 after acquiring an additional 10,328 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Onto Innovation by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock valued at $114,748,000 after acquiring an additional 26,563 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 0.1 %

ONTO opened at $166.29 on Friday. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93. The company has a fifty day moving average of $194.17 and a 200-day moving average of $204.80. The stock has a market cap of $8.21 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the company posted $0.96 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer upped 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. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC decreased their price target on shares of Onto Innovation from $245.00 to $230.00 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

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.