Onto Innovation Inc. $ONTO Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,440 shares of the semiconductor company’s stock after selling 20,113 shares during the quarter. Legal & General Group Plc owned approximately 0.15% of Onto Innovation worth $11,751,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its position in Onto Innovation by 1.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock valued at $643,000 after buying an additional 75 shares during the last quarter. Advisors Asset Management Inc. grew its position in Onto Innovation by 1.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,059 shares of the semiconductor company’s stock valued at $654,000 after buying an additional 93 shares during the last quarter. Westside Investment Management Inc. grew its position in Onto Innovation by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Blue Trust Inc. grew its position in Onto Innovation by 44.5% in the 4th quarter. Blue Trust Inc. now owns 406 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 125 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in Onto Innovation by 48.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 419 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 136 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Up 1.0%

Onto Innovation stock opened at $280.76 on Thursday. Onto Innovation Inc. has a 52 week low of $89.40 and a 52 week high of $316.00. The firm’s 50-day simple moving average is $260.31 and its 200 day simple moving average is $210.82. The firm has a market capitalization of $13.97 billion, a PE ratio of 131.20, a P/E/G ratio of 1.31 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The business had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. During the same period in the previous year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 7.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ONTO shares. Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a research report on Monday. Cantor Fitzgerald boosted their target price on shares of Onto Innovation from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. B. Riley Financial boosted their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and set a $350.00 target price on shares of Onto Innovation in a research report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and set a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $310.63.

Onto Innovation Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.