Stephens Investment Management Group LLC Has $87.15 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Stephens Investment Management Group LLC trimmed its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 20.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,860 shares of the semiconductor company's stock after selling 109,850 shares during the quarter. Onto Innovation accounts for 1.2% of Stephens Investment Management Group LLC's holdings, making the stock its 23rd largest holding. Stephens Investment Management Group LLC owned 0.85% of Onto Innovation worth $87,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its holdings in shares of Onto Innovation by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,100 shares of the semiconductor company's stock worth $2,191,000 after acquiring an additional 300 shares during the last quarter. Norden Group LLC bought a new position in Onto Innovation in the 1st quarter valued at approximately $654,000. Retirement Systems of Alabama boosted its position in Onto Innovation by 0.3% in the first quarter. Retirement Systems of Alabama now owns 61,633 shares of the semiconductor company's stock valued at $11,161,000 after buying an additional 163 shares in the last quarter. Peterson Wealth Services grew its stake in shares of Onto Innovation by 165.3% during the first quarter. Peterson Wealth Services now owns 3,900 shares of the semiconductor company's stock worth $706,000 after buying an additional 2,430 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Onto Innovation during the first quarter worth $28,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Price Performance

Shares of ONTO traded down $22.23 during trading hours on Friday, hitting $176.10. 1,839,185 shares of the stock were exchanged, compared to its average volume of 568,195. Onto Innovation Inc. has a fifty-two week low of $115.07 and a fifty-two week high of $238.93. The business has a 50-day moving average of $203.24 and a 200-day moving average of $206.62. The firm has a market capitalization of $8.70 billion, a P/E ratio of 52.58, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36.

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 for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business's revenue was up 21.7% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. As a group, analysts forecast that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the topic of a number of research reports. Needham & Company LLC reduced 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. Oppenheimer upped their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Friday. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Nicolaus upped their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Finally, Benchmark reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm's 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 owns 16,050 shares of the company's stock, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.