Harmony Asset Management LLC Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Harmony Asset Management LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,496 shares of the semiconductor company’s stock after selling 136 shares during the quarter. Harmony Asset Management LLC’s holdings in Onto Innovation were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP raised its holdings in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. LGT Financial Advisors LLC lifted its position in shares of Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp raised 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 purchasing an additional 84 shares in the last quarter. Finally, Eastern Bank purchased a new position in Onto Innovation in the third quarter worth $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC lowered their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Trading Up 4.1 %

Onto Innovation stock opened at $170.85 on Tuesday. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93. The stock has a market cap of $8.44 billion, a PE ratio of 46.30, a P/E/G ratio of 1.05 and a beta of 1.30. The stock has a 50-day moving average price of $190.42 and a 200 day moving average price of $202.30.

Onto Innovation (NYSE:ONTO) last released 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. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the company posted $0.96 EPS. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.