William Blair Investment Management LLC Sells 255,174 Shares of Onto Innovation Inc. $ONTO

William Blair Investment Management LLC lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 12.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,726,587 shares of the semiconductor company’s stock after selling 255,174 shares during the period. Onto Innovation accounts for approximately 0.8% of William Blair Investment Management LLC’s holdings, making the stock its 24th largest position. William Blair Investment Management LLC owned about 3.52% of Onto Innovation worth $272,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Onto Innovation by 98.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,006 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 499 shares during the period. Global Retirement Partners LLC grew its holdings in Onto Innovation by 274.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,679 shares of the semiconductor company’s stock worth $265,000 after purchasing an additional 1,231 shares during the period. Fortis Group Advisors LLC grew its holdings in Onto Innovation by 18.9% during the fourth quarter. Fortis Group Advisors LLC now owns 2,723 shares of the semiconductor company’s stock worth $430,000 after purchasing an additional 433 shares during the period. Aspen Investment Management Inc bought a new position in Onto Innovation during the fourth quarter worth about $286,000. Finally, IFP Advisors Inc grew its holdings in Onto Innovation by 552.4% during the fourth quarter. IFP Advisors Inc now owns 822 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 696 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

ONTO has been the subject of a number of research analyst reports. Stifel Nicolaus set a $350.00 price target on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Oppenheimer set a $370.00 price target on Onto Innovation in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Finally, Evercore reiterated an “outperform” rating and set a $315.00 price target on shares of Onto Innovation in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Buy” and a consensus price target of $310.63.

Onto Innovation Stock Up 0.2%

Shares of NYSE:ONTO opened at $262.05 on Friday. Onto Innovation Inc. has a 12-month low of $89.40 and a 12-month high of $316.00. The stock has a market cap of $13.03 billion, a PE ratio of 122.45, a P/E/G ratio of 1.28 and a beta of 1.70. The business has a 50 day moving average of $249.36 and a 200-day moving average of $202.86.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that Onto Innovation Inc. will post 6.83 earnings per share for the current year.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.