Epoch Investment Partners Inc. Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

Epoch Investment Partners Inc. cut its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 14.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 73,194 shares of the semiconductor company’s stock after selling 12,687 shares during the period. Epoch Investment Partners Inc.’s holdings in Onto Innovation were worth $13,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ONTO. Fifth Third Bancorp increased its holdings in shares of Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Onto Innovation during the first quarter valued at $28,000. GAMMA Investing LLC purchased a new stake in shares of Onto Innovation during the fourth quarter valued at $33,000. Rise Advisors LLC purchased a new stake in shares of Onto Innovation during the first quarter valued at $38,000. Finally, Parallel Advisors LLC boosted its position in shares of 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 buying an additional 110 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ONTO shares. Benchmark increased their price objective on Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, May 10th. B. Riley increased their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group started coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective on the stock. Stifel Nicolaus increased their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Evercore ISI increased their price objective on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.00.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $188.80 on Monday. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 67.19 and a beta of 1.39. The stock’s 50-day simple moving average is $220.52 and its two-hundred day simple moving average is $194.88. Onto Innovation Inc. has a 52-week low of $105.58 and a 52-week high of $238.93.

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

Insider Activity

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

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.