Prudent Man Advisors LLC Trims Holdings in Onto Innovation Inc. (NYSE:ONTO)

Prudent Man Advisors LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTOFree Report) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,122 shares of the semiconductor company’s stock after selling 513 shares during the quarter. Prudent Man Advisors LLC’s holdings in Onto Innovation were worth $271,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ONTO. Vanguard Group Inc. raised its position in Onto Innovation by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,538,842 shares of the semiconductor company’s stock valued at $354,762,000 after purchasing an additional 87,051 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Onto Innovation by 14.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,891,994 shares of the semiconductor company’s stock valued at $128,826,000 after acquiring an additional 239,310 shares in the last quarter. State Street Corp lifted its stake in Onto Innovation by 3.6% in the first quarter. State Street Corp now owns 1,687,670 shares of the semiconductor company’s stock worth $148,312,000 after acquiring an additional 58,146 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Onto Innovation by 55.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after acquiring an additional 592,920 shares in the last quarter. Finally, Robeco Schweiz AG boosted its holdings in Onto Innovation by 10.2% in the first quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock valued at $112,957,000 after acquiring an additional 120,000 shares in the last quarter. 94.78% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of ONTO opened at $181.00 on Monday. Onto Innovation Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $181.00. The firm’s 50-day simple moving average is $152.39 and its two-hundred day simple moving average is $134.98. The stock has a market cap of $8.88 billion, a PE ratio of 73.17 and a beta of 1.39.

Onto Innovation (NYSE:ONTOGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 EPS. Equities research analysts predict that Onto Innovation Inc. will post 4.67 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a report on Friday, January 19th. B. Riley upped their target price on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday. Finally, Benchmark raised their target price on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average target price of $164.50.

View Our Latest Research Report on Onto Innovation

Onto Innovation Company Profile

(Free Report)

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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