Arrowstreet Capital Limited Partnership Sells 170,708 Shares of Onto Innovation Inc. (NYSE:ONTO)

Arrowstreet Capital Limited Partnership decreased its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 78.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,482 shares of the semiconductor company's stock after selling 170,708 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.09% of Onto Innovation worth $7,747,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Onto Innovation during the 4th quarter worth $87,987,000. Artisan Partners Limited Partnership lifted its position in Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares during the period. Raymond James Financial Inc. acquired a new stake in Onto Innovation during the fourth quarter worth about $43,893,000. Proficio Capital Partners LLC bought a new position in Onto Innovation in the 4th quarter valued at about $41,946,000. Finally, JPMorgan Chase & Co. increased its holdings in Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after buying an additional 228,800 shares during the period. Institutional investors own 98.35% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Benchmark reiterated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group dropped their price objective on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Oppenheimer reduced their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus target price of $220.63.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company's stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Trading Up 2.0 %

ONTO traded up $2.37 on Friday, reaching $120.40. The stock had a trading volume of 917,314 shares, compared to its average volume of 784,793. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The firm has a 50-day moving average of $143.57 and a 200-day moving average of $172.35.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 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.