Paloma Partners Management Co Lowers Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Paloma Partners Management Co decreased its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 86.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,264 shares of the semiconductor company's stock after selling 26,702 shares during the quarter. Paloma Partners Management Co's holdings in Onto Innovation were worth $885,000 as of its most recent SEC filing.

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

Onto Innovation Trading Up 1.0 %

Shares of Onto Innovation stock traded up $1.74 during trading on Tuesday, reaching $172.59. The company's stock had a trading volume of 612,334 shares, compared to its average volume of 595,714. The firm has a market cap of $8.52 billion, a PE ratio of 46.77, a P/E/G ratio of 1.09 and a beta of 1.30. The company has a 50-day moving average price of $189.89 and a two-hundred day moving average price of $201.93. Onto Innovation Inc. has a fifty-two week low of $134.11 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted 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. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. On average, analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.