William Blair Investment Management LLC Has $57.73 Million Position in Onto Innovation Inc. (NYSE:ONTO)

William Blair Investment Management LLC cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,781 shares of the semiconductor company’s stock after selling 28,065 shares during the quarter. William Blair Investment Management LLC owned approximately 0.65% of Onto Innovation worth $57,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vontobel Holding Ltd. increased its position in Onto Innovation by 1.2% during the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after buying an additional 75 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its holdings in Onto Innovation by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock valued at $2,834,000 after acquiring an additional 78 shares during the period. GAMMA Investing LLC boosted its holdings in Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 85 shares during the period. Natixis Advisors L.P. boosted its holdings in Onto Innovation by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 17,473 shares of the semiconductor company’s stock valued at $2,671,000 after acquiring an additional 90 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 110 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONTO. Jefferies Financial Group began coverage on shares of Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Benchmark increased their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Evercore ISI increased their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Stifel Nicolaus increased their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $259.00.

Insider Transactions at Onto Innovation

In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Mark Slicer sold 519 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 13.0 %

ONTO stock traded down $30.95 during midday trading on Wednesday, reaching $207.09. The company’s stock had a trading volume of 1,150,887 shares, compared to its average volume of 515,371. Onto Innovation Inc. has a 52 week low of $103.93 and a 52 week high of $238.93. The stock has a market cap of $10.20 billion, a PE ratio of 73.68 and a beta of 1.39. The business’s 50-day simple moving average is $223.84 and its 200-day simple moving average is $191.57.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

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.