Onto Innovation Inc. $ONTO Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 61.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,441 shares of the semiconductor company’s stock after selling 7,023 shares during the period. Hsbc Holdings PLC’s holdings in Onto Innovation were worth $902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC lifted its position in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Onto Innovation by 188.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 115 shares in the last quarter. Millstone Evans Group LLC increased its position in shares of Onto Innovation by 147.8% in the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake 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 acquiring an additional 128 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at $39,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Down 9.9%

ONTO opened at $217.83 on Thursday. The company has a fifty day simple moving average of $295.48 and a 200 day simple moving average of $252.90. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 101.79, a PEG ratio of 0.99 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.

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

Wall Street Analyst Weigh In

ONTO has been the topic of several recent research reports. Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald increased their price target on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft began coverage on Onto Innovation in a research report on Friday, June 5th. They issued a “buy” rating and a $350.00 price objective on the stock. Needham & Company LLC boosted their price objective on Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley started coverage on Onto Innovation in a research report on Sunday, June 14th. They issued an “overweight” rating and a $371.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $339.60.

Onto Innovation 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.