Impax Asset Management Group plc Sells 15,000 Shares of Onto Innovation Inc. (NYSE:ONTO)

Impax Asset Management Group plc trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,057 shares of the semiconductor company's stock after selling 15,000 shares during the quarter. Impax Asset Management Group plc owned approximately 0.19% of Onto Innovation worth $19,107,000 at the end of the most recent reporting period.

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

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares of the company's stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Trading Down 0.1 %

Onto Innovation stock traded down $0.23 during trading on Friday, hitting $176.06. 1,215,640 shares of the company were exchanged, compared to its average volume of 833,871. The company has a market capitalization of $8.70 billion, a P/E ratio of 47.71, a PEG ratio of 1.15 and a beta of 1.37. The business's 50 day moving average is $199.08 and its 200 day moving average is $206.48. Onto Innovation Inc. has a 52 week low of $118.90 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. Equities analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current year.

Analysts Set New Price Targets

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

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.