Charles Schwab Investment Management Inc. Sells 162,067 Shares of Onto Innovation Inc. (NYSE:ONTO)

Charles Schwab Investment Management Inc. decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 32.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 337,222 shares of the semiconductor company's stock after selling 162,067 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.68% of Onto Innovation worth $69,994,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Quarry LP raised its stake in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 108 shares during the period. LGT Financial Advisors LLC lifted its holdings in Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 84 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Onto Innovation during the 3rd quarter worth about $65,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ONTO shares. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Benchmark reiterated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Needham & Company LLC lowered their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Onto Innovation Stock Up 1.9 %

Shares of NYSE:ONTO traded up $3.14 during midday trading on Friday, hitting $164.18. The stock had a trading volume of 449,965 shares, compared to its average volume of 593,872. The company's 50-day moving average price is $191.73 and its 200-day moving average price is $203.46. Onto Innovation Inc. has a fifty-two week low of $134.11 and a fifty-two week high of $238.93. The company has a market capitalization of $8.11 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same quarter last year, the company posted $0.96 EPS. The company's revenue for the quarter was up 21.7% compared to the same quarter last year. Research analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction 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 transaction, the senior vice president now owns 16,050 shares of the company's stock, valued at $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company's stock.

About Onto Innovation

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.