Congress Wealth Management LLC DE Sells 86,758 Shares of Onto Innovation Inc. (NYSE:ONTO)

Congress Wealth Management LLC DE lowered its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,302 shares of the semiconductor company's stock after selling 86,758 shares during the quarter. Congress Wealth Management LLC DE owned about 0.10% of Onto Innovation worth $7,884,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. grew its stake in shares of Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 111 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation in the fourth quarter worth $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation during the fourth quarter worth $50,000. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ONTO shares. Oppenheimer cut their price target on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus set a $200.00 price target on Onto Innovation and gave the company a "buy" rating in a research report on Friday. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price objective on Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Benchmark reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.88.

Remove Ads

Onto Innovation Price Performance

ONTO stock traded down $6.43 during midday trading on Friday, reaching $121.99. 979,804 shares of the company were exchanged, compared to its average volume of 737,240. Onto Innovation Inc. has a one year low of $120.68 and a one year high of $238.93. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The business has a 50-day moving average price of $164.57 and a two-hundred day moving average price of $178.70.

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

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation 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 completion of the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares of the company's stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

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.