Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP trimmed its position in Onto Innovation Inc. (NYSE:ONTO) by 27.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,966 shares of the semiconductor company’s stock after selling 15,114 shares during the period. Nicholas Investment Partners LP owned about 0.08% of Onto Innovation worth $6,828,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. raised its stake in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Onto Innovation in the 4th quarter valued at $38,000. SBI Securities Co. Ltd. purchased a new position in Onto Innovation in the 4th quarter valued at $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Onto Innovation during the 4th quarter worth $47,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 6.1%

Shares of ONTO opened at $99.19 on Wednesday. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $238.93. The firm has a market capitalization of $4.84 billion, a P/E ratio of 24.43, a P/E/G ratio of 0.89 and a beta of 1.55. The firm has a 50-day moving average price of $122.48 and a 200 day moving average price of $158.30.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Onto Innovation’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reduced their target price on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Oppenheimer decreased their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Finally, Benchmark lowered their target price on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.14.

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.