Emerald Mutual Fund Advisers Trust Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Emerald Mutual Fund Advisers Trust cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 17.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 102,424 shares of the semiconductor company’s stock after selling 22,077 shares during the quarter. Onto Innovation makes up about 1.2% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 26th largest holding. Emerald Mutual Fund Advisers Trust’s holdings in Onto Innovation were worth $22,488,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation in the 1st quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Onto Innovation during the 1st quarter valued at approximately $38,000. LGT Financial Advisors LLC raised its holdings in shares of Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after buying an additional 90 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after buying an additional 85 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Down 5.5 %

Shares of ONTO stock opened at $177.30 on Friday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The stock has a market cap of $8.74 billion, a P/E ratio of 63.10 and a beta of 1.37. The stock has a 50 day moving average of $203.81 and a 200 day moving average of $201.17.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the firm earned $0.79 EPS. The business’s quarterly revenue was up 27.1% on a year-over-year basis. On average, research analysts predict that Onto Innovation Inc. will post 5.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. Stifel Nicolaus lifted their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. B. Riley upped their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group initiated coverage on shares of Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price target for the company. Finally, Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

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.