Mutual of America Capital Management LLC Decreases Position in Onto Innovation Inc. (NYSE:ONTO)

Mutual of America Capital Management LLC trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,040 shares of the semiconductor company's stock after selling 3,335 shares during the period. Mutual of America Capital Management LLC owned about 0.12% of Onto Innovation worth $10,329,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Fifth Third Bancorp grew its position in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation in the 4th quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new stake in Onto Innovation during the 1st quarter worth about $28,000. GAMMA Investing LLC purchased a new position in Onto Innovation during the 4th quarter valued at about $33,000. Finally, Rise Advisors LLC acquired a new position in shares of Onto Innovation in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Activity

In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Mark Slicer sold 519 shares of the business's stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company's stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 1,486 shares of the firm's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares of the company's stock, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Onto Innovation Trading Up 0.9 %

ONTO stock traded up $2.10 during trading on Tuesday, hitting $234.52. 570,294 shares of the stock traded hands, compared to its average volume of 505,520. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 83.46 and a beta of 1.39. Onto Innovation Inc. has a one year low of $103.93 and a one year high of $238.15. The company has a 50 day simple moving average of $220.70 and a 200 day simple moving average of $188.86.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.08. The firm had revenue of $228.80 million during the quarter, compared to analysts' expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business's revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. As a group, analysts predict that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Onto Innovation in a research report on Friday, May 10th. B. Riley raised their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, June 20th. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. Jefferies Financial Group began coverage on shares of Onto Innovation in a research note on Monday, May 13th. They issued a "buy" rating and a $265.00 price objective for the company. Finally, Benchmark upped their price objective on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $248.00.

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.