Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,040 shares of the semiconductor company’s stock after selling 3,335 shares during the period. Mutual of America Capital Management LLC owned approximately 0.12% of Onto Innovation worth $10,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ONTO. Fifth Third Bancorp lifted its stake in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation during the 4th quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in Onto Innovation during the 1st quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in Onto Innovation during the 4th quarter worth approximately $33,000. Finally, Rise Advisors LLC purchased a new stake in Onto Innovation during the 1st quarter worth approximately $38,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

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

Onto Innovation Stock Performance

NYSE:ONTO traded up $2.31 during trading hours on Tuesday, hitting $234.73. 205,782 shares of the company’s stock traded hands, compared to its average volume of 502,716. The firm has a market cap of $11.57 billion, a P/E ratio of 82.78 and a beta of 1.39. Onto Innovation Inc. has a twelve month low of $103.93 and a twelve month high of $238.15. The stock’s fifty day moving average price is $219.72 and its two-hundred day moving average price is $188.29.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ONTO shares. Jefferies Financial Group started coverage on Onto Innovation in a report on Monday, May 13th. They issued a “buy” rating and a $265.00 price target for the company. Evercore ISI boosted their price objective on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Stifel Nicolaus boosted their price objective on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Finally, B. Riley boosted their price target on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $248.00.

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.