Stifel Financial Corp Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Stifel Financial Corp lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 27.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,846 shares of the semiconductor company's stock after selling 6,317 shares during the quarter. Stifel Financial Corp's holdings in Onto Innovation were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock valued at $23,112,000 after acquiring an additional 33,025 shares during the period. Cerity Partners LLC boosted its position in shares of Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock worth $968,000 after purchasing an additional 3,458 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Onto Innovation in the third quarter worth $14,539,000. XTX Topco Ltd bought a new stake in shares of Onto Innovation during the 2nd quarter valued at $2,336,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares during the period. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 1.0 %

Onto Innovation stock traded up $1.68 during midday trading on Tuesday, reaching $172.23. 553,315 shares of the stock traded hands, compared to its average volume of 595,904. The stock has a market cap of $8.51 billion, a P/E ratio of 46.40, a PEG ratio of 1.07 and a beta of 1.30. The stock's fifty day moving average is $182.41 and its 200-day moving average is $198.04. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results 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 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 the consensus estimate of $250.85 million. During the same period in the prior year, the company earned $0.96 EPS. The company's quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ONTO shares. Oppenheimer reiterated an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday. Benchmark reiterated a "buy" rating and set a $230.00 target price on shares of Onto Innovation 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 on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC dropped their price target 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.