Shelton Capital Management Decreases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Shelton Capital Management lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 7.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,697 shares of the semiconductor company’s stock after selling 219 shares during the quarter. Shelton Capital Management’s holdings in Onto Innovation were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. purchased a new stake in shares of Onto Innovation during the second quarter worth approximately $247,000. Louisiana State Employees Retirement System raised its stake in Onto Innovation by 11.3% during the second quarter. Louisiana State Employees Retirement System now owns 25,700 shares of the semiconductor company’s stock worth $2,993,000 after purchasing an additional 2,600 shares during the period. Hunter Perkins Capital Management LLC boosted its holdings in Onto Innovation by 66.5% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 20,477 shares of the semiconductor company’s stock valued at $953,000 after purchasing an additional 8,175 shares during the last quarter. FMR LLC grew its stake in shares of Onto Innovation by 3.0% in the 1st quarter. FMR LLC now owns 999,210 shares of the semiconductor company’s stock valued at $87,811,000 after buying an additional 29,548 shares during the period. Finally, Putnam Investments LLC increased its holdings in shares of Onto Innovation by 40.5% during the 1st quarter. Putnam Investments LLC now owns 171,560 shares of the semiconductor company’s stock worth $15,077,000 after buying an additional 49,451 shares during the last quarter. 94.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Benchmark reissued a “buy” rating and set a $145.00 target price on shares of Onto Innovation in a research note on Friday, November 10th. StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus upped their target price on shares of Onto Innovation from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.17.

Insiders Place Their Bets

In other Onto Innovation news, SVP Robert Fiordalice sold 7,049 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $882,464.31. Following the completion of the transaction, the senior vice president now owns 6,477 shares in the company, valued at $810,855.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Robert Fiordalice sold 7,049 shares of Onto Innovation stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.19, for a total value of $882,464.31. Following the completion of the transaction, the senior vice president now directly owns 6,477 shares in the company, valued at $810,855.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Slicer sold 3,005 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.14, for a total value of $376,045.70. Following the transaction, the chief financial officer now directly owns 13,111 shares of the company’s stock, valued at $1,640,710.54. The disclosure for this sale can be found here. Insiders have sold a total of 11,523 shares of company stock worth $1,459,763 in the last ninety days. 0.81% of the stock is owned by corporate insiders.

Onto Innovation Trading Up 0.9 %

ONTO stock opened at $136.21 on Tuesday. The business’s fifty day moving average price is $126.12 and its 200 day moving average price is $116.46. Onto Innovation Inc. has a 12-month low of $65.61 and a 12-month high of $147.71. The company has a market capitalization of $6.69 billion, a PE ratio of 42.70 and a beta of 1.35.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Onto Innovation had a net margin of 18.47% and a return on equity of 12.71%. The company had revenue of $207.19 million for the quarter, compared to analyst estimates of $215.20 million. During the same period in the prior year, the firm earned $1.35 earnings per share. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. Research analysts predict that Onto Innovation Inc. will post 3.63 EPS for the current fiscal year.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.