Onto Innovation Inc. (NYSE:ONTO) Shares Sold by South Street Advisors LLC

South Street Advisors LLC reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 2.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 88,550 shares of the semiconductor company’s stock after selling 2,215 shares during the quarter. Onto Innovation comprises about 2.8% of South Street Advisors LLC’s holdings, making the stock its 15th largest position. South Street Advisors LLC owned approximately 0.18% of Onto Innovation worth $18,379,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ONTO. QRG Capital Management Inc. boosted its position in shares of Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock worth $425,000 after purchasing an additional 50 shares in the last quarter. Magnetar Financial LLC grew its position in Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after buying an additional 63 shares during the period. Shaker Investments LLC OH increased its holdings in Onto Innovation by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 64 shares in the last quarter. Quarry LP lifted its position in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Finally, Hunter Perkins Capital Management LLC boosted its stake in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 80 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s 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 completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 3.8 %

NYSE:ONTO traded down $6.21 on Friday, hitting $158.54. 942,003 shares of the stock were exchanged, compared to its average volume of 585,864. The stock has a market cap of $7.83 billion, a PE ratio of 42.95, a PEG ratio of 1.06 and a beta of 1.37. The stock has a fifty day moving average of $196.76 and a 200-day moving average of $205.94. Onto Innovation Inc. has a fifty-two week low of $131.78 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly 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 company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on ONTO shares. Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer boosted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

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.