Los Angeles Capital Management LLC Sells 2,468 Shares of Onto Innovation Inc. (NYSE:ONTO)

Los Angeles Capital Management LLC lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 59.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,709 shares of the semiconductor company’s stock after selling 2,468 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Onto Innovation were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ONTO. Fifth Third Bancorp raised its position 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 acquiring an additional 115 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC acquired a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $33,000. Parallel Advisors LLC raised its position in shares of Onto Innovation by 43.0% in the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 110 shares during the period. Finally, Operose Advisors LLC acquired a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $49,000. Institutional investors own 98.35% of the company’s stock.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the transaction, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Down 1.7 %

NYSE ONTO opened at $215.49 on Thursday. Onto Innovation Inc. has a 12-month low of $103.93 and a 12-month high of $238.13. The company has a market capitalization of $10.62 billion, a PE ratio of 76.69 and a beta of 1.43. The firm’s 50 day moving average is $211.74 and its 200-day moving average is $183.59.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.05 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research report on Monday, May 13th. They issued a “buy” rating and a $265.00 price target on the stock. Benchmark raised their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. B. Riley raised their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Stifel Nicolaus raised their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.