Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lessened its position in Onto Innovation Inc. (NYSE:ONTO) by 17.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,591 shares of the semiconductor company’s stock after selling 340 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Onto Innovation were worth $330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its position in Onto Innovation by 2.4% in the third quarter. Assetmark Inc. now owns 40,773 shares of the semiconductor company’s stock valued at $8,463,000 after purchasing an additional 938 shares during the period. TFB Advisors LLC lifted its holdings in shares of Onto Innovation by 6.4% in the 3rd quarter. TFB Advisors LLC now owns 2,290 shares of the semiconductor company’s stock valued at $475,000 after buying an additional 138 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Onto Innovation by 49.1% in the third quarter. Portside Wealth Group LLC now owns 1,557 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 513 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Onto Innovation during the third quarter worth $176,000. Finally, Van ECK Associates Corp raised its position in Onto Innovation by 28.5% in the third quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 0.1 %

NYSE:ONTO opened at $174.84 on Wednesday. Onto Innovation Inc. has a twelve month low of $131.78 and a twelve month high of $238.93. The company has a market capitalization of $8.64 billion, a P/E ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The firm has a 50-day moving average price of $198.31 and a two-hundred day moving average price of $206.85.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data 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. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. On average, equities research analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ONTO. Needham & Company LLC decreased their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group lowered 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 report on Friday, November 1st. Finally, Oppenheimer lifted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $254.29.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.