Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,352 shares of the semiconductor company's stock after selling 4,878 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Onto Innovation were worth $392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. grew its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after buying an additional 111 shares during the last quarter. Versant Capital Management Inc increased its stake in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after buying an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $43,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $50,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 5.0 %

Shares of ONTO traded down $6.43 during mid-day trading on Friday, reaching $121.99. 979,804 shares of the company's stock were exchanged, compared to its average volume of 737,240. Onto Innovation Inc. has a 52-week low of $120.68 and a 52-week high of $238.93. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 0.89 and a beta of 1.29. The company has a 50-day simple moving average of $164.57 and a two-hundred day simple moving average of $178.70.

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Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction on 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 in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction 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 directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ONTO. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus set a $200.00 price objective on shares of Onto Innovation and gave the company a "buy" rating in a research note on Friday. Benchmark reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $231.88.

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.