Dimensional Fund Advisors LP Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

Dimensional Fund Advisors LP decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 846,303 shares of the semiconductor company’s stock after selling 213,334 shares during the period. Dimensional Fund Advisors LP owned 1.72% of Onto Innovation worth $185,821,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ONTO. Norges Bank purchased a new position in Onto Innovation during the fourth quarter worth $89,785,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after purchasing an additional 371,641 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after purchasing an additional 194,056 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Onto Innovation by 28.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after purchasing an additional 189,769 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Onto Innovation by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock worth $85,118,000 after purchasing an additional 174,010 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ONTO has been the topic of several analyst reports. Stifel Nicolaus raised their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Finally, B. Riley lifted their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and six have issued 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 $259.00.

Onto Innovation Trading Up 8.2 %

Shares of Onto Innovation stock opened at $203.14 on Friday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The stock has a market capitalization of $10.01 billion, a P/E ratio of 72.29 and a beta of 1.37. The business’s fifty day moving average price is $197.11 and its 200 day moving average price is $201.71.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, sell-side analysts predict 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.