Hancock Whitney Corp Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Hancock Whitney Corp lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 44.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,506 shares of the semiconductor company’s stock after selling 1,997 shares during the quarter. Hancock Whitney Corp’s holdings in Onto Innovation were worth $550,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in Onto Innovation during the 1st quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of Onto Innovation during the first quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 85 shares during the period. LGT Financial Advisors LLC raised its position in Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’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 sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ONTO. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. B. Riley upped their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Stifel Nicolaus increased their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Price Performance

ONTO opened at $200.52 on Tuesday. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93. The stock has a market capitalization of $9.88 billion, a P/E ratio of 71.36 and a beta of 1.37. The business has a 50 day simple moving average of $195.95 and a 200-day simple moving average of $201.95.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business’s revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Research analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

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.