Fisher Asset Management LLC Has $147.65 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Fisher Asset Management LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,341 shares of the semiconductor company's stock after selling 57,080 shares during the quarter. Fisher Asset Management LLC owned 1.44% of Onto Innovation worth $147,646,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 108 shares during the last quarter. LGT Financial Advisors LLC increased its holdings in shares of Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock valued at $54,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 84 shares during the period. Finally, Eastern Bank acquired a new stake in Onto Innovation during the 3rd quarter worth about $65,000. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONTO. Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Benchmark reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Onto Innovation has an average rating of "Moderate Buy" and a consensus price target of $254.29.

Onto Innovation Stock Down 1.4 %

NYSE ONTO traded down $2.29 during midday trading on Tuesday, hitting $162.90. The company had a trading volume of 633,466 shares, compared to its average volume of 594,437. The firm has a fifty day simple moving average of $193.69 and a two-hundred day simple moving average of $204.49. Onto Innovation Inc. has a fifty-two week low of $134.11 and a fifty-two week high of $238.93. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.38% 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 in the previous year, the business posted $0.96 earnings per share. Onto Innovation's quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction 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 sale, the senior vice president now directly owns 16,050 shares of the company's stock, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company's stock.

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.