Eagle Asset Management Inc. Has $35.18 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Eagle Asset Management Inc. reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,496 shares of the semiconductor company's stock after selling 45,056 shares during the quarter. Eagle Asset Management Inc. owned 0.34% of Onto Innovation worth $35,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. lifted its position in shares of Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock valued at $44,444,000 after acquiring an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock valued at $1,218,000 after purchasing an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Onto Innovation by 45.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after acquiring an additional 33,025 shares in the last quarter. Swedbank AB raised its holdings in shares of Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company's stock valued at $13,701,000 after acquiring an additional 49,200 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $14,539,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ONTO shares. Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Oppenheimer upped their price target on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Benchmark reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $254.29.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares of the company's stock, valued at $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company's stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $0.21 during trading on Friday, hitting $166.29. 967,127 shares of the stock traded hands, compared to its average volume of 898,519. The stock has a market cap of $8.21 billion, a P/E ratio of 45.05, a PEG ratio of 1.07 and a beta of 1.37. The company has a fifty day moving average price of $194.17 and a two-hundred day moving average price of $204.85. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93.

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

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.