PNC Financial Services Group Inc. reduced its holdings in Onto Innovation Inc. (NYSE:ONTO – Free Report) by 28.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,088 shares of the semiconductor company’s stock after selling 3,644 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Onto Innovation were worth $1,159,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Onto Innovation by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,538,842 shares of the semiconductor company’s stock worth $354,762,000 after acquiring an additional 87,051 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Onto Innovation by 14.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,891,994 shares of the semiconductor company’s stock worth $128,826,000 after acquiring an additional 239,310 shares in the last quarter. State Street Corp boosted its holdings in shares of Onto Innovation by 3.6% in the 1st quarter. State Street Corp now owns 1,687,670 shares of the semiconductor company’s stock worth $148,312,000 after acquiring an additional 58,146 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Onto Innovation by 55.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock worth $116,217,000 after acquiring an additional 592,920 shares in the last quarter. Finally, Robeco Schweiz AG boosted its holdings in shares of Onto Innovation by 10.2% in the 1st quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock worth $112,957,000 after acquiring an additional 120,000 shares in the last quarter. 94.78% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on ONTO shares. B. Riley upped their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Stifel Nicolaus upped their price objective on Onto Innovation from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, Benchmark upped their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.50.
Get Our Latest Research Report on ONTO
Insider Buying and Selling
In related news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by company insiders.
Onto Innovation Stock Up 0.2 %
NYSE:ONTO opened at $178.46 on Friday. Onto Innovation Inc. has a 12-month low of $76.40 and a 12-month high of $186.38. The firm has a market capitalization of $8.76 billion, a P/E ratio of 72.54 and a beta of 1.39. The stock’s fifty day simple moving average is $158.49 and its 200-day simple moving average is $138.67.
Onto Innovation (NYSE:ONTO – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. During the same period last year, the company earned $1.57 EPS. The firm’s revenue was down 13.5% on a year-over-year basis. As a group, equities research analysts expect that Onto Innovation Inc. will post 4.65 earnings per share for the current year.
Onto Innovation Profile
Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.
Featured Stories
Want to see what other hedge funds are holding ONTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Onto Innovation Inc. (NYSE:ONTO – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Onto Innovation, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Onto Innovation wasn’t on the list.
While Onto Innovation currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for March 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Source: marketbeat.com
