Telemark Asset Management LLC Sells 25,000 Shares of Onto Innovation Inc. (NYSE:ONTO)

Telemark Asset Management LLC cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 45.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,000 shares of the semiconductor company's stock after selling 25,000 shares during the quarter. Telemark Asset Management LLC owned 0.06% of Onto Innovation worth $6,227,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its position in shares of Onto Innovation by 10.3% in 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Onto Innovation during the 1st quarter valued at $1,171,000. EntryPoint Capital LLC bought a new position in Onto Innovation in the 1st quarter worth $80,000. Advisors Asset Management Inc. lifted its position in shares of Onto Innovation by 30.9% in the 1st quarter. Advisors Asset Management Inc. now owns 4,339 shares of the semiconductor company's stock worth $786,000 after purchasing an additional 1,025 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of Onto Innovation during the 1st quarter valued at about $6,754,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ONTO. Jefferies Financial Group lowered their price objective 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. Oppenheimer raised their target price on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note 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. 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 report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Stock Down 0.1 %

Shares of NYSE ONTO traded down $0.21 during trading on Friday, reaching $166.29. The company had a trading volume of 917,222 shares, compared to its average volume of 592,290. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93. The business's 50-day moving average is $194.81 and its 200 day moving average is $205.14. The stock has a market cap of $8.21 billion, a PE ratio of 45.12, a P/E/G ratio of 1.05 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation's revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. On average, analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company's stock.

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.