Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 0.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,145,677 shares of the semiconductor company’s stock after selling 434 shares during the quarter. Onto Innovation accounts for approximately 3.3% of Geneva Capital Management LLC’s holdings, making the stock its biggest holding. Geneva Capital Management LLC owned approximately 2.33% of Onto Innovation worth $175,174,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Onto Innovation in the 4th quarter valued at $28,000. Huntington National Bank grew its position in shares of Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. GAMMA Investing LLC acquired a new position in Onto Innovation in the 4th quarter valued at $33,000. Finally, Operose Advisors LLC acquired a new position in shares of Onto Innovation in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ONTO. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Evercore ISI began coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target on the stock. B. Riley upped their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Benchmark increased their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.60.

Onto Innovation Price Performance

Shares of ONTO stock traded up $2.14 during mid-day trading on Thursday, hitting $208.29. The stock had a trading volume of 676,897 shares, compared to its average volume of 435,881. The firm has a market capitalization of $10.23 billion, a P/E ratio of 84.67 and a beta of 1.40. The firm’s 50-day moving average is $186.05 and its two-hundred day moving average is $161.29. Onto Innovation Inc. has a 12-month low of $86.04 and a 12-month high of $213.47.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was down 13.5% on a year-over-year basis. Analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insiders Place Their Bets

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock worth $8,266,955 over the last three months. 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.