Hantz Financial Services Inc. Reduces Holdings in Onto Innovation Inc. (NYSE:ONTO)

Hantz Financial Services Inc. decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,851 shares of the semiconductor company’s stock after selling 14,268 shares during the quarter. Hantz Financial Services Inc.’s holdings in Onto Innovation were worth $5,975,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ONTO. JPMorgan Chase & Co. boosted its stake in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the period. State Street Corp lifted its position in Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares during the period. Franklin Resources Inc. lifted its position in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after purchasing an additional 54,868 shares during the period. Congress Asset Management Co. lifted its position in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC lifted its position in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after purchasing an additional 23,628 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

ONTO stock opened at $191.67 on Thursday. The stock has a market capitalization of $9.47 billion, a P/E ratio of 51.94, a PEG ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93. The company has a 50 day moving average price of $179.97 and a two-hundred day moving average price of $190.61.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. Research analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on ONTO shares. Oppenheimer restated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Cantor Fitzgerald assumed coverage on shares of Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.75.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now owns 185,492 shares in the company, valued at $39,183,330.08. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last ninety days. Company insiders own 0.72% of the company’s stock.

Onto Innovation 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.