Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc trimmed its position in Onto Innovation Inc. (NYSE:ONTO) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,739 shares of the semiconductor company’s stock after selling 90 shares during the quarter. Morse Asset Management Inc’s holdings in Onto Innovation were worth $3,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Onto Innovation in the 4th quarter valued at $89,785,000. UBS Group AG raised its position in Onto Innovation by 714.0% in the fourth quarter. UBS Group AG now owns 53,731 shares of the semiconductor company’s stock valued at $8,215,000 after purchasing an additional 47,130 shares during the period. Coldstream Capital Management Inc. acquired a new position in shares of Onto Innovation during the fourth quarter worth about $232,000. Parallel Advisors LLC boosted its position in shares of Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in shares of Onto Innovation by 111,150.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the semiconductor company’s stock valued at $340,000 after buying an additional 2,223 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Down 1.6 %

Shares of NYSE:ONTO opened at $199.91 on Monday. The firm has a market cap of $9.85 billion, a PE ratio of 71.14 and a beta of 1.37. The company has a fifty day simple moving average of $196.52 and a 200 day simple moving average of $201.92. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. During the same quarter in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. As a group, equities research analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ONTO has been the topic of several recent research reports. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, B. Riley boosted their price objective 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $259.00.

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.