Onto Innovation Inc. $ONTO Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 37.6% in the 1st quarter, Holdings Channel reports. The fund owned 19,043 shares of the semiconductor company’s stock after selling 11,492 shares during the period. Glenmede Trust Co. NA’s holdings in Onto Innovation were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in shares of Onto Innovation by 312.5% during the 1st quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after purchasing an additional 3,122 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Onto Innovation by 76.4% during the first quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock worth $58,517,000 after buying an additional 208,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Onto Innovation by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock valued at $19,810,000 after buying an additional 13,175 shares during the period. Cetera Investment Advisers increased its holdings in Onto Innovation by 6.3% in the second quarter. Cetera Investment Advisers now owns 4,017 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 238 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Onto Innovation by 182.4% in the second quarter. Russell Investments Group Ltd. now owns 6,631 shares of the semiconductor company’s stock worth $666,000 after acquiring an additional 4,283 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 7.5%

Shares of Onto Innovation stock opened at $288.64 on Wednesday. Onto Innovation Inc. has a twelve month low of $89.40 and a twelve month high of $386.46. The firm has a market capitalization of $14.36 billion, a PE ratio of 134.88, a P/E/G ratio of 1.10 and a beta of 1.59. The firm’s 50-day moving average price is $295.61 and its 200 day moving average price is $254.91.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to analyst estimates of $292.00 million. During the same period in the previous year, the business earned $1.51 EPS. Onto Innovation’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of analyst reports. Zacks Research upgraded Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Oppenheimer raised their price objective on Onto Innovation from $370.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the company a “buy” rating in a research report on Friday, April 17th. B. Riley Financial increased their target price on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, 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 on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $339.60.

About Onto Innovation

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.