Atria Investments Inc Sells 4,525 Shares of Onto Innovation Inc. (NYSE:ONTO)

Atria Investments Inc lessened its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 61.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,800 shares of the semiconductor company's stock after selling 4,525 shares during the period. Atria Investments Inc's holdings in Onto Innovation were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after acquiring an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in shares of Onto Innovation by 7.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company's stock worth $218,000 after purchasing an additional 76 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after acquiring an additional 81 shares during the last quarter. Huntington National Bank increased its holdings in shares of Onto Innovation by 26.3% during the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company's stock worth $88,000 after buying an additional 88 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its position in Onto Innovation by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock valued at $403,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently weighed in on ONTO. Oppenheimer decreased their price objective on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $246.88.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company's stock.

Onto Innovation Stock Up 1.8 %

ONTO traded up $2.45 during midday trading on Wednesday, hitting $137.45. The company had a trading volume of 322,770 shares, compared to its average volume of 689,911. The stock's 50 day moving average price is $175.14 and its 200 day moving average price is $181.77. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Onto Innovation Company 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.