International Assets Investment Management LLC Sells 40,262 Shares of Onto Innovation Inc. (NYSE:ONTO)

International Assets Investment Management LLC lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 97.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the semiconductor company's stock after selling 40,262 shares during the period. International Assets Investment Management LLC's holdings in Onto Innovation were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ONTO. Magnetar Financial LLC grew its holdings in Onto Innovation by 4.0% during the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company's stock worth $356,000 after acquiring an additional 63 shares during the period. Northwest & Ethical Investments L.P. boosted its position in shares of Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company's stock worth $218,000 after purchasing an additional 76 shares during the last quarter. Quarry LP grew its stake in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 79 shares during the period. Hunter Perkins Capital Management LLC increased its holdings in Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company's stock valued at $483,000 after purchasing an additional 80 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Onto Innovation by 2.9% in the second quarter. Evergreen Capital Management LLC now owns 2,975 shares of the semiconductor company's stock valued at $653,000 after buying an additional 85 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Oppenheimer restated an "outperform" rating and set a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Needham & Company LLC reduced their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a report on Monday. They issued an "overweight" rating and a $250.00 price target for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $253.75.

Onto Innovation Price Performance

ONTO traded up $11.04 on Tuesday, hitting $201.95. 780,119 shares of the stock were exchanged, compared to its average volume of 729,665. Onto Innovation Inc. has a 12 month low of $141.79 and a 12 month high of $238.93. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 54.73, a PEG ratio of 1.07 and a beta of 1.29. The business has a 50-day moving average of $171.96 and a two-hundred day moving average of $191.96.

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 (EPS) for the quarter, topping 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 business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same quarter last year, the business posted $0.96 EPS. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. Equities research analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Onto Innovation Company 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.