Value Holdings Management CO. LLC lessened its holdings in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,775 shares of the semiconductor company’s stock after selling 16,000 shares during the period. Onto Innovation makes up approximately 5.0% of Value Holdings Management CO. LLC’s portfolio, making the stock its 10th biggest holding. Value Holdings Management CO. LLC owned 0.33% of Onto Innovation worth $24,583,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in Onto Innovation in the fourth quarter valued at approximately $28,000. Huntington National Bank lifted its position in shares of Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 175 shares in the last quarter. Operose Advisors LLC purchased a new stake in shares of Onto Innovation during the third quarter worth $49,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Onto Innovation during the second quarter worth $52,000. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Onto Innovation Stock Performance
ONTO traded up $0.43 during trading on Friday, reaching $183.44. The stock had a trading volume of 251,509 shares, compared to its average volume of 366,545. The stock has a market cap of $9.01 billion, a PE ratio of 74.57 and a beta of 1.41. Onto Innovation Inc. has a one year low of $76.40 and a one year high of $199.72. The business has a 50-day moving average of $172.73 and a 200-day moving average of $147.61.
Onto Innovation (NYSE:ONTO – Get Free Report) last released its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Equities research analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have issued reports on ONTO. Benchmark increased their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, B. Riley upped their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.50.
Insider Activity at Onto Innovation
In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares in the company, valued at $2,684,340. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, the vice president now owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Insiders have sold a total of 47,170 shares of company stock valued at $8,266,955 over the last 90 days. 0.81% of the stock is owned by insiders.
About Onto Innovation
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.