LGT Financial Advisors LLC Reduces Stock Position in Onto Innovation Inc. (NYSE:ONTO)

by · The Markets Daily

LGT Financial Advisors LLC decreased its holdings in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 36.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155 shares of the semiconductor company’s stock after selling 90 shares during the period. LGT Financial Advisors LLC’s holdings in Onto Innovation were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. QRG Capital Management Inc. lifted its position in shares of Onto Innovation by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock worth $425,000 after purchasing an additional 50 shares during the period. Magnetar Financial LLC boosted its position in Onto Innovation by 4.0% during the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after acquiring an additional 63 shares in the last quarter. Shaker Investments LLC OH increased its holdings in shares of Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after acquiring an additional 64 shares during the period. Quarry LP raised its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 80 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reduced their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Get Our Latest Research Report on ONTO

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Trading Up 2.8 %

NYSE ONTO opened at $178.58 on Thursday. The stock has a market cap of $8.82 billion, a P/E ratio of 48.40, a P/E/G ratio of 1.11 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $117.44 and a 12-month high of $238.93. The company has a fifty day simple moving average of $200.49 and a two-hundred day simple moving average of $206.65.

Onto Innovation (NYSE:ONTO – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. During the same quarter in the previous year, the business earned $0.96 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Onto Innovation Company Profile

(Free Report)

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.

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