Ausbil Investment Management Ltd Decreases Stake in Onto Innovation Inc. (NYSE:ONTO)

Ausbil Investment Management Ltd lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 38.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,214 shares of the semiconductor company’s stock after selling 1,365 shares during the period. Ausbil Investment Management Ltd’s holdings in Onto Innovation were worth $410,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Onto Innovation in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC bought a new position in Onto Innovation during the fourth quarter valued at $33,000. Rise Advisors LLC purchased a new stake in Onto Innovation in the first quarter worth $38,000. Finally, Operose Advisors LLC bought a new stake in shares of Onto Innovation in the third quarter valued at $49,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Up 3.0 %

Shares of ONTO stock traded up $6.66 during mid-day trading on Friday, reaching $226.66. The stock had a trading volume of 16,586 shares, compared to its average volume of 446,810. The firm has a market capitalization of $11.17 billion, a PE ratio of 78.29 and a beta of 1.43. The stock’s 50-day moving average price is $213.25 and its two-hundred day moving average price is $184.06. Onto Innovation Inc. has a 52-week low of $103.93 and a 52-week high of $238.13.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. On average, equities research analysts forecast that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONTO. Benchmark lifted their price objective on shares of Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, May 10th. B. Riley boosted their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus raised their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Evercore ISI upped their price target on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group initiated coverage on shares of Onto Innovation in a research report on Monday, May 13th. They issued a “buy” rating and a $265.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.00.

Insiders Place Their Bets

In related news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.