Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 27.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,966 shares of the semiconductor company’s stock after selling 15,114 shares during the quarter. Nicholas Investment Partners LP’s holdings in Onto Innovation were worth $6,828,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of Onto Innovation in the 4th quarter valued at $26,000. Mather Group LLC. boosted its holdings in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the period. Johnson Financial Group Inc. acquired a new position in Onto Innovation in the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the fourth quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Onto Innovation during the fourth quarter worth about $47,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ONTO shares. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Benchmark reduced their price objective on Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Oppenheimer decreased their target price on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC cut their price target on Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.14.

Onto Innovation Trading Up 6.1%

Shares of ONTO opened at $99.19 on Wednesday. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 0.89 and a beta of 1.55. The firm’s fifty day simple moving average is $122.48 and its 200-day simple moving average is $158.30. Onto Innovation Inc. has a twelve month low of $85.88 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.47 by $0.04. The firm had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Onto Innovation’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal 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.