Profund Advisors LLC Has $314,000 Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Profund Advisors LLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 52.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,429 shares of the semiconductor company’s stock after selling 1,588 shares during the quarter. Profund Advisors LLC’s holdings in Onto Innovation were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ONTO. Price T Rowe Associates Inc. MD lifted its stake in shares of Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after acquiring an additional 371,641 shares during the period. Natixis Advisors LLC boosted its stake in shares of Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after purchasing an additional 194,056 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Onto Innovation by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after acquiring an additional 174,010 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Onto Innovation in the 1st quarter valued at $29,420,000. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Oppenheimer began coverage on shares of Onto Innovation in a research note on Wednesday. They set an “outperform” rating and a $260.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Finally, B. Riley lifted their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $259.17.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $215.37 on Friday. Onto Innovation Inc. has a 52 week low of $108.98 and a 52 week high of $238.93. The company’s 50 day moving average price is $195.49 and its two-hundred day moving average price is $202.20. The company has a market capitalization of $10.61 billion, a P/E ratio of 76.64 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period last year, the business posted $0.79 earnings per share. Analysts forecast that Onto Innovation Inc. will post 5.18 earnings per share 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.