Emerald Advisers LLC Sells 54,225 Shares of Onto Innovation Inc. (NYSE:ONTO)

Emerald Advisers LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 43.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,192 shares of the semiconductor company's stock after selling 54,225 shares during the quarter. Emerald Advisers LLC owned about 0.14% of Onto Innovation worth $14,777,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Onto Innovation during the first quarter valued at about $654,000. Fidelis Capital Partners LLC bought a new position in shares of Onto Innovation in the 1st quarter worth approximately $28,000. Nordea Investment Management AB lifted its stake in shares of Onto Innovation by 17.8% in the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company's stock valued at $18,586,000 after purchasing an additional 15,451 shares during the period. Jennison Associates LLC boosted its position in shares of Onto Innovation by 135.7% during the first quarter. Jennison Associates LLC now owns 8,219 shares of the semiconductor company's stock valued at $1,488,000 after purchasing an additional 4,732 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Onto Innovation in the first quarter worth $180,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 11.2 %

NYSE ONTO traded down $22.23 on Friday, reaching $176.10. 1,839,738 shares of the stock were exchanged, compared to its average volume of 644,749. Onto Innovation Inc. has a one year low of $115.07 and a one year high of $238.93. The firm has a market capitalization of $8.70 billion, a PE ratio of 47.72, a PEG ratio of 1.28 and a beta of 1.37. The company's 50-day simple moving average is $202.50 and its two-hundred day simple moving average is $206.86.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.61% and a net margin of 19.44%. The business had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same period last year, the firm earned $0.96 earnings per share. The business's quarterly revenue was up 21.7% on a year-over-year basis. Sell-side analysts forecast that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ONTO. Benchmark restated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday. Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, 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 note on Friday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Onto Innovation currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.29.

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.