Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 16.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 14,582 shares of the semiconductor company’s stock after selling 2,784 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Onto Innovation were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB raised its position in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Onto Innovation during the 4th quarter worth $38,000. SBI Securities Co. Ltd. purchased a new position in Onto Innovation during the 4th quarter worth $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Onto Innovation during the 4th quarter worth $47,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Down 1.4%

NYSE ONTO opened at $99.88 on Thursday. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 0.89 and a beta of 1.46. The business’s 50 day moving average is $108.55 and its two-hundred day moving average is $146.81. Onto Innovation Inc. has a 12-month low of $85.88 and a 12-month high of $238.93.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONTO shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 target price (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wall Street Zen upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Jefferies Financial Group set a $110.00 target price on Onto Innovation and gave the company a “hold” rating in a report on Tuesday, May 20th. Finally, Benchmark decreased their price target on Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

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.