Segall Bryant & Hamill LLC Reduces Stake in Onto Innovation Inc. (NYSE:ONTO)

Segall Bryant & Hamill LLC reduced its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 19.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,676 shares of the semiconductor company's stock after selling 25,522 shares during the period. Segall Bryant & Hamill LLC owned about 0.22% of Onto Innovation worth $22,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ONTO. State Board of Administration of Florida Retirement System raised its stake in shares of Onto Innovation by 27.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company's stock valued at $3,221,000 after acquiring an additional 3,800 shares during the last quarter. Vanguard Group Inc. raised its position in Onto Innovation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company's stock worth $951,446,000 after purchasing an additional 65,472 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Onto Innovation by 10.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,381 shares of the semiconductor company's stock worth $612,000 after buying an additional 317 shares during the period. Bessemer Group Inc. grew its position in shares of Onto Innovation by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company's stock valued at $21,709,000 after buying an additional 7,815 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Onto Innovation in the first quarter valued at about $1,171,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Performance

NYSE ONTO traded down $2.67 during trading on Wednesday, hitting $160.17. 222,315 shares of the company's stock traded hands, compared to its average volume of 586,798. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 1.02 and a beta of 1.37. The business has a 50 day moving average of $195.99 and a 200-day moving average of $205.72. Onto Innovation Inc. has a 12-month low of $133.67 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued 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 business had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The business's revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ONTO. Jefferies Financial Group lowered their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer lifted 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. Finally, Needham & Company LLC lowered 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

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.