Onto Innovation Inc. (NYSE:ONTO) Holdings Decreased by Tributary Capital Management LLC

Tributary Capital Management LLC trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 96.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,046 shares of the semiconductor company’s stock after selling 90,188 shares during the period. Tributary Capital Management LLC’s holdings in Onto Innovation were worth $669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new position in Onto Innovation during the fourth quarter valued at about $207,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Onto Innovation by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,739 shares of the semiconductor company’s stock worth $1,642,000 after purchasing an additional 455 shares during the last quarter. Federated Hermes Inc. bought a new stake in Onto Innovation during the fourth quarter worth approximately $852,000. Xponance Inc. grew its holdings in Onto Innovation by 141.7% during the fourth quarter. Xponance Inc. now owns 7,061 shares of the semiconductor company’s stock valued at $1,080,000 after purchasing an additional 4,140 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Onto Innovation by 188.5% in the fourth quarter. Lindbrook Capital LLC now owns 577 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 377 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred 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 in the company, valued at $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus upped their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI raised their price target on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, B. Riley raised their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.00.

Onto Innovation Stock Performance

Shares of NYSE:ONTO traded up $4.89 on Friday, hitting $212.96. 338,301 shares of the company were exchanged, compared to its average volume of 543,651. The company’s 50 day moving average price is $207.90 and its two-hundred day moving average price is $198.96. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 75.79 and a beta of 1.39. Onto Innovation Inc. has a one year low of $108.98 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.12. The firm had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Research analysts predict that Onto Innovation Inc. will post 5.05 earnings per share for the current 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.