First Eagle Investment Management LLC Sells 23,514 Shares of Onto Innovation Inc. (NYSE:ONTO)

First Eagle Investment Management LLC decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 52.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,094 shares of the semiconductor company’s stock after selling 23,514 shares during the quarter. First Eagle Investment Management LLC’s holdings in Onto Innovation were worth $4,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its position in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 2,753 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after buying an additional 15,451 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Onto Innovation by 36.8% in the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after acquiring an additional 79,530 shares during the last quarter. Finally, Norden Group LLC purchased a new position in Onto Innovation in the first quarter worth about $654,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.6 %

ONTO stock opened at $199.90 on Friday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 71.14 and a beta of 1.37. The business’s fifty day simple moving average is $196.52 and its two-hundred day simple moving average is $201.74.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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 the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. Research analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

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

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.