Royce & Associates LP Sells 19,474 Shares of Onto Innovation Inc. (NYSE:ONTO)

Royce & Associates LP reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,158 shares of the semiconductor company's stock after selling 19,474 shares during the period. Royce & Associates LP owned 0.45% of Onto Innovation worth $46,319,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

ONTO has been the subject of several analyst reports. 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. 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 dropped their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $254.29.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the 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 completion of the transaction, the senior vice president now owns 16,050 shares of the company's stock, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company's stock.

Onto Innovation Trading Down 3.8 %

Onto Innovation stock traded down $6.21 during midday trading on Friday, hitting $158.54. The stock had a trading volume of 941,913 shares, compared to its average volume of 585,864. The company has a market capitalization of $7.83 billion, a PE ratio of 43.37, a P/E/G ratio of 1.06 and a beta of 1.37. Onto Innovation Inc. has a 52-week low of $131.78 and a 52-week high of $238.93. The firm's fifty day moving average is $197.14 and its two-hundred day moving average is $206.16.

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 for the quarter, topping 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 firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business's quarterly revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts predict that Onto Innovation Inc. will post 5.19 earnings per share 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.