Tanaka Capital Management Inc. Sells 5,735 Shares of Onto Innovation Inc. (NYSE:ONTO)

Tanaka Capital Management Inc. reduced its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 28.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,426 shares of the semiconductor company's stock after selling 5,735 shares during the period. Onto Innovation comprises 6.9% of Tanaka Capital Management Inc.'s holdings, making the stock its 6th largest position. Tanaka Capital Management Inc.'s holdings in Onto Innovation were worth $2,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP boosted its holdings in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% in 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 in the last quarter. LGT Financial Advisors LLC lifted its stake in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock worth $54,000 after acquiring an additional 90 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 84 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Onto Innovation during the 3rd quarter worth about $65,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

ONTO stock traded up $0.15 during midday trading on Monday, hitting $168.99. 494,258 shares of the stock were exchanged, compared to its average volume of 597,524. The stock's 50-day moving average price is $187.13 and its 200-day moving average price is $200.64. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 1.08 and a beta of 1.30. 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 announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. Research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several research analyst reports. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday, November 1st. Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.