Centiva Capital LP Decreases Holdings in Onto Innovation Inc. (NYSE:ONTO)

Centiva Capital LP lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 77.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,348 shares of the semiconductor company’s stock after selling 4,724 shares during the quarter. Centiva Capital LP’s holdings in Onto Innovation were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ONTO. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Onto Innovation by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after purchasing an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Onto Innovation by 45.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after buying an additional 33,025 shares during the period. Cerity Partners LLC lifted its stake in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after acquiring an additional 3,458 shares during the period. Finally, Swedbank AB boosted its holdings in Onto Innovation by 372.7% in the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock valued at $13,701,000 after acquiring an additional 49,200 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ONTO shares. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Stock Down 3.4 %

Onto Innovation stock opened at $163.25 on Wednesday. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93. The company has a market capitalization of $8.06 billion, a P/E ratio of 44.27, a PEG ratio of 1.08 and a beta of 1.30. The stock’s 50 day moving average is $186.36 and its 200 day moving average is $200.23.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. As a group, equities analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current year.

About Onto Innovation

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.