Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 95.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,080 shares of the semiconductor company’s stock after selling 40,911 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Onto Innovation were worth $347,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares in the last quarter. Bridge City Capital LLC boosted its holdings in Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after acquiring an additional 78 shares during the period. CIBC Asset Management Inc raised its stake in shares of Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after purchasing an additional 81 shares during the period. Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock valued at $403,000 after purchasing an additional 90 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company’s stock worth $191,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

ONTO opened at $88.50 on Monday. The company has a 50-day moving average of $124.11 and a 200-day moving average of $159.49. The company has a market capitalization of $4.32 billion, a P/E ratio of 21.80, a PEG ratio of 0.89 and a beta of 1.55. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million during the quarter, compared to the consensus estimate of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 EPS. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ONTO. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC dropped their price target on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark dropped their price target on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus target price of $177.14.

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.