TimesSquare Capital Management LLC Has $21.71 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,581 shares of the semiconductor company's stock after selling 16,140 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.21% of Onto Innovation worth $21,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. boosted its holdings in shares of Onto Innovation by 2.4% in the 3rd quarter. Assetmark Inc. now owns 40,773 shares of the semiconductor company's stock worth $8,463,000 after acquiring an additional 938 shares in the last quarter. TFB Advisors LLC raised its position in Onto Innovation by 6.4% in the 3rd quarter. TFB Advisors LLC now owns 2,290 shares of the semiconductor company's stock worth $475,000 after purchasing an additional 138 shares during the last quarter. Portside Wealth Group LLC raised its position in Onto Innovation by 49.1% in the 3rd quarter. Portside Wealth Group LLC now owns 1,557 shares of the semiconductor company's stock worth $323,000 after purchasing an additional 513 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Onto Innovation in the 3rd quarter worth approximately $176,000. Finally, Van ECK Associates Corp raised its position in Onto Innovation by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company's stock worth $118,000 after purchasing an additional 130 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective 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. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Benchmark restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer boosted 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, November 1st. Finally, Needham & Company LLC dropped their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Price Performance

Shares of Onto Innovation stock traded down $1.43 on Monday, hitting $174.61. 727,893 shares of the company's stock traded hands, compared to its average volume of 581,749. The firm's 50-day moving average price is $199.08 and its two-hundred day moving average price is $206.90. The stock has a market capitalization of $8.62 billion, a PE ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. Onto Innovation Inc. has a one year low of $131.78 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data 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 net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the prior year, the company earned $0.96 EPS. The firm's quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 16,050 shares of the company's stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Onto Innovation 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.