Harvest Fund Management Co. Ltd Has $317,000 Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,075 shares of the semiconductor company’s stock after selling 167 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $317,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Onto Innovation in the 3rd quarter valued at about $522,000. Vontobel Holding Ltd. acquired a new stake in Onto Innovation in the 3rd quarter valued at about $824,000. CWM LLC lifted its stake in Onto Innovation by 141.3% in the 3rd quarter. CWM LLC now owns 1,559 shares of the semiconductor company’s stock valued at $199,000 after purchasing an additional 913 shares during the last quarter. Connective Portfolio Management LLC acquired a new stake in Onto Innovation in the 3rd quarter valued at about $765,000. Finally, Linden Thomas Advisory Services LLC acquired a new stake in Onto Innovation in the 3rd quarter valued at about $1,531,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded up $0.66 during midday trading on Wednesday, reaching $176.76. The company’s stock had a trading volume of 290,918 shares, compared to its average volume of 417,179. Onto Innovation Inc. has a fifty-two week low of $76.40 and a fifty-two week high of $199.72. The business’s 50 day moving average price is $181.89 and its two-hundred day moving average price is $156.36. The company has a market cap of $8.68 billion, a P/E ratio of 71.49 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. During the same period in the previous year, the business earned $1.57 earnings per share. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. Sell-side analysts forecast that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock worth $8,266,955 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Benchmark raised their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. B. Riley raised their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Evercore ISI initiated coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

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.