Moody National Bank Trust Division Sells 6,810 Shares of Onto Innovation Inc. $ONTO

Moody National Bank Trust Division reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 49.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,955 shares of the semiconductor company’s stock after selling 6,810 shares during the quarter. Moody National Bank Trust Division’s holdings in Onto Innovation were worth $2,632,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ONTO. CWM LLC lifted its position in Onto Innovation by 361.2% in the 4th quarter. CWM LLC now owns 20,068 shares of the semiconductor company’s stock worth $3,168,000 after buying an additional 15,717 shares during the last quarter. Entropy Technologies LP purchased a new stake in Onto Innovation in the first quarter worth approximately $2,877,000. M&T Bank Corp grew its position in Onto Innovation by 11,228.9% during the fourth quarter. M&T Bank Corp now owns 341,112 shares of the semiconductor company’s stock valued at $53,848,000 after acquiring an additional 338,101 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in Onto Innovation during the fourth quarter valued at approximately $1,583,000. Finally, Ticino Wealth purchased a new position in shares of Onto Innovation during the fourth quarter worth approximately $3,286,000. 98.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $350.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. B. Riley Financial increased their target price on shares of Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 13th. Morgan Stanley assumed coverage on shares of Onto Innovation in a research note on Sunday, June 14th. They issued an “overweight” rating and a $371.00 price target for the company. Oppenheimer upped their price target on shares of Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Finally, Needham & Company LLC raised their price objective on Onto Innovation from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Buy” and an average price target of $339.60.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $288.64 on Wednesday. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46. The stock has a 50 day moving average price of $295.61 and a two-hundred day moving average price of $254.91. The company has a market capitalization of $14.36 billion, a P/E ratio of 134.88, a PEG ratio of 1.10 and a beta of 1.59.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current 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.