Blueshift Asset Management LLC Sells 525 Shares of Onto Innovation Inc. (NYSE:ONTO)

Blueshift Asset Management LLC lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,528 shares of the semiconductor company’s stock after selling 525 shares during the quarter. Blueshift Asset Management LLC’s holdings in Onto Innovation were worth $525,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ONTO. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after buying an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Onto Innovation by 98.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings 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 worth $23,112,000 after acquiring an additional 33,025 shares in the last quarter. Swedbank AB lifted its position in Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock valued at $13,701,000 after purchasing an additional 49,200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Onto Innovation in the 3rd quarter valued at about $14,539,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed 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 reduced their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a 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. 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 Stock Down 1.1 %

NYSE:ONTO opened at $161.04 on Thursday. The company has a fifty day simple moving average of $192.57 and a two-hundred day simple moving average of $203.76. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 43.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the business earned $0.96 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

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.