Atria Investments Inc Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Atria Investments Inc lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.3% in the third quarter, Holdings Channel.com reports. The fund owned 7,325 shares of the semiconductor company’s stock after selling 98 shares during the quarter. Atria Investments Inc’s holdings in Onto Innovation were worth $1,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP raised its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. LGT Financial Advisors LLC increased its position in Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp increased its position in Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares in the last quarter. Finally, Eastern Bank acquired a new position in Onto Innovation during the 3rd quarter valued at about $65,000. 98.35% of the stock is owned by institutional investors.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction 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 directly owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $158.48 on Friday. Onto Innovation Inc. has a one year low of $131.78 and a one year high of $238.93. The stock has a market cap of $7.83 billion, a PE ratio of 42.95, a P/E/G ratio of 1.06 and a beta of 1.37. The stock has a 50 day moving average price of $197.14 and a 200 day moving average price of $206.16.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of several recent analyst reports. Oppenheimer upped their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $254.29.

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.