Onto Innovation Inc. $ONTO Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor owned 70,930 shares of the semiconductor company’s stock after selling 4,455 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Onto Innovation were worth $14,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Root Financial Partners LLC lifted its stake in Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 74 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Onto Innovation by 109.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Onto Innovation in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ONTO. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Morgan Stanley assumed coverage on Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target on the stock. Needham & Company LLC lifted their price target on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Cantor Fitzgerald increased their price objective on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $339.60.

Onto Innovation Trading Down 5.3%

Shares of NYSE:ONTO opened at $304.44 on Tuesday. The company has a market capitalization of $15.14 billion, a PE ratio of 142.26, a P/E/G ratio of 1.31 and a beta of 1.55. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The firm has a 50 day simple moving average of $294.94 and a 200-day simple moving average of $243.57.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 EPS. As a group, equities research analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Onto Innovation Company Profile

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.