Shelton Capital Management Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Shelton Capital Management cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,697 shares of the semiconductor company’s stock after selling 219 shares during the quarter. Shelton Capital Management’s holdings in Onto Innovation were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Onto Innovation during the 2nd quarter valued at $31,000. Public Employees Retirement System of Ohio boosted its stake in Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 175 shares during the period. Pacer Advisors Inc. boosted its stake in Onto Innovation by 637.7% in the 2nd quarter. Pacer Advisors Inc. now owns 391 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 338 shares during the period. Point72 Hong Kong Ltd purchased a new position in Onto Innovation during the 2nd quarter valued at about $52,000. Finally, CWM LLC increased its position in shares of Onto Innovation by 16.2% during the second quarter. CWM LLC now owns 646 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 90 shares during the period. Institutional investors own 94.78% of the company’s stock.

Onto Innovation Stock Up 0.9 %

NYSE ONTO opened at $136.21 on Tuesday. The stock’s 50-day simple moving average is $126.12 and its two-hundred day simple moving average is $116.46. Onto Innovation Inc. has a twelve month low of $65.61 and a twelve month high of $147.71. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 42.70 and a beta of 1.35.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $207.19 million for the quarter, compared to analysts’ expectations of $215.20 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.47%. Onto Innovation’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the firm posted $1.35 EPS. On average, equities analysts expect that Onto Innovation Inc. will post 3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,469 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $137.00, for a total value of $201,253.00. Following the completion of the sale, the senior vice president now owns 17,976 shares in the company, valued at approximately $2,462,712. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Robert Fiordalice sold 7,049 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $882,464.31. Following the completion of the transaction, the senior vice president now directly owns 6,477 shares of the company’s stock, valued at $810,855.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Srinivas Vedula sold 1,469 shares of Onto Innovation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $137.00, for a total value of $201,253.00. Following the sale, the senior vice president now directly owns 17,976 shares in the company, valued at $2,462,712. The disclosure for this sale can be found here. Insiders have sold 11,523 shares of company stock valued at $1,459,763 in the last ninety days. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ONTO. Benchmark restated a “buy” rating and issued a $145.00 price objective on shares of Onto Innovation in a research report on Friday, November 10th. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus upped their price target on shares of Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.17.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.