Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,326 shares of the semiconductor company’s stock after selling 23,733 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Onto Innovation were worth $97,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ONTO. Fidelis Capital Partners LLC purchased a new stake in shares of Onto Innovation during the 1st quarter worth about $28,000. GAMMA Investing LLC purchased a new stake in shares of Onto Innovation during the 4th quarter worth about $33,000. Rise Advisors LLC purchased a new stake in shares of Onto Innovation during the 1st quarter worth about $38,000. Parallel Advisors LLC boosted its stake in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 110 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 0.9 %

ONTO opened at $206.52 on Tuesday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The company has a 50-day moving average price of $207.62 and a 200 day moving average price of $199.86. The company has a market cap of $10.18 billion, a PE ratio of 74.25 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. Onto Innovation’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Evercore ISI increased their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. B. Riley increased their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.