Impax Asset Management Group plc Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

Impax Asset Management Group plc decreased its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. QRG Capital Management Inc. raised its holdings in Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company's stock worth $425,000 after purchasing an additional 50 shares during the last quarter. Magnetar Financial LLC raised its stake in Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company's stock worth $356,000 after buying an additional 63 shares during the last quarter. Shaker Investments LLC OH lifted its holdings in Onto Innovation by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company's stock valued at $862,000 after buying an additional 64 shares during the period. Quarry LP boosted its position in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC grew its holdings in Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company's stock worth $483,000 after acquiring an additional 80 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday. Oppenheimer raised their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday. Jefferies Financial Group dropped 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 raised their price target 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. Finally, Benchmark reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Trading Up 0.4 %

Onto Innovation stock traded up $0.70 during trading on Tuesday, hitting $173.65. 724,280 shares of the company were exchanged, compared to its average volume of 572,482. The company has a market capitalization of $8.57 billion, a P/E ratio of 47.06, a PEG ratio of 1.13 and a beta of 1.37. The business's 50 day moving average is $201.06 and its 200 day moving average is $206.85. Onto Innovation Inc. has a 52 week low of $117.44 and a 52 week high of $238.93.

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

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 sale, the senior vice president now owns 16,050 shares of the company's stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

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.