Thrivent Financial for Lutherans Cuts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Thrivent Financial for Lutherans decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,332 shares of the semiconductor company’s stock after selling 3,433 shares during the quarter. Thrivent Financial for Lutherans owned about 0.66% of Onto Innovation worth $71,650,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ONTO. Fidelis Capital Partners LLC purchased a new stake in shares of Onto Innovation during the 1st quarter valued at about $28,000. Rise Advisors LLC bought a new stake in Onto Innovation during the first quarter worth approximately $38,000. GAMMA Investing LLC increased its stake in Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares during the last quarter. LGT Financial Advisors LLC raised its position in Onto Innovation by 58.1% during the second 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 period. Finally, Parallel Advisors LLC lifted its stake 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 purchasing an additional 110 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ONTO. Stifel Nicolaus boosted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. B. Riley boosted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Finally, Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Onto Innovation Trading Down 1.6 %

NYSE:ONTO opened at $199.91 on Friday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 71.14 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The stock has a fifty day simple moving average of $196.52 and a 200-day simple moving average of $201.84.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million during 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 firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, equities research analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Onto Innovation 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.