Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Onto Innovation Inc. (NYSE:ONTO) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,134 shares of the semiconductor company’s stock after selling 313 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Onto Innovation were worth $469,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at about $920,000. Vaughan Nelson Investment Management L.P. lifted its position in Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after acquiring an additional 39,955 shares during the period. Swedbank AB lifted its position in Onto Innovation by 372.7% during the 2nd quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock worth $13,701,000 after acquiring an additional 49,200 shares during the period. AlphaMark Advisors LLC acquired a new stake in Onto Innovation during the 2nd quarter worth approximately $364,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after acquiring an additional 2,753 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ONTO shares. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. B. Riley increased their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group started coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective for the company. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, Evercore ISI increased their price objective on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Price Performance

ONTO opened at $212.96 on Friday. The business has a 50 day simple moving average of $207.90 and a 200-day simple moving average of $198.96. The stock has a market capitalization of $10.49 billion, a P/E ratio of 75.79 and a beta of 1.39. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. Research analysts anticipate that Onto Innovation Inc. will post 5.05 EPS for the current year.

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.