Harvest Fund Management Co. Ltd Sells 167 Shares of Onto Innovation Inc. (NYSE:ONTO)

Harvest Fund Management Co. Ltd cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,075 shares of the semiconductor company’s stock after selling 167 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Onto Innovation by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock valued at $730,472,000 after purchasing an additional 27,695 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Onto Innovation by 2,306.3% during the 4th quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock valued at $1,681,000 after acquiring an additional 10,540 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Onto Innovation by 854.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after acquiring an additional 265,042 shares during the period. Raymond James & Associates lifted its stake in Onto Innovation by 153.6% during the 4th quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock valued at $2,219,000 after acquiring an additional 8,792 shares during the period. Finally, Trust Point Inc. bought a new position in Onto Innovation during the 4th quarter valued at about $913,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onto Innovation

In other news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock worth $8,266,955 over the last quarter. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ONTO shares. Evercore ISI began coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. B. Riley raised their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Benchmark increased their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.60.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded up $0.66 on Wednesday, hitting $176.76. 290,918 shares of the company’s stock were exchanged, compared to its average volume of 417,179. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 71.49 and a beta of 1.40. The business’s 50 day simple moving average is $181.89 and its two-hundred day simple moving average is $156.36.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. Equities analysts forecast that Onto Innovation Inc. will post 4.7 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 optical metrology. The company offers lithography systems and process control analytical software. It also 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.