Fisher Asset Management LLC Sells 16,602 Shares of Onto Innovation Inc. (NYSE:ONTO)

Fisher Asset Management LLC lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 694,739 shares of the semiconductor company's stock after selling 16,602 shares during the period. Fisher Asset Management LLC owned 1.41% of Onto Innovation worth $115,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its stake in Onto Innovation by 106.7% in the third quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company's stock valued at $4,841,000 after purchasing an additional 12,040 shares in the last quarter. Private Advisor Group LLC increased its stake in Onto Innovation by 17.1% in the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company's stock valued at $455,000 after purchasing an additional 321 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Onto Innovation by 67.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,733 shares of the semiconductor company's stock valued at $567,000 after purchasing an additional 1,105 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Onto Innovation by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 5,710 shares of the semiconductor company's stock valued at $1,185,000 after purchasing an additional 385 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Onto Innovation by 503.9% in the third quarter. Nisa Investment Advisors LLC now owns 12,888 shares of the semiconductor company's stock valued at $2,675,000 after purchasing an additional 10,754 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 3.5 %

Onto Innovation stock traded up $4.75 during midday trading on Wednesday, hitting $140.16. 1,076,956 shares of the stock were exchanged, compared to its average volume of 1,030,225. Onto Innovation Inc. has a 52-week low of $129.53 and a 52-week high of $238.93. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The business's 50-day moving average price is $182.87 and its 200-day moving average price is $186.90.

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 net margin of 20.43% and a return on equity of 14.24%. On average, sell-side analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ONTO. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Oppenheimer reduced their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a 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 report on Friday, February 7th. Finally, Benchmark reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.88.

Insider Buying and Selling

In other Onto Innovation news, 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 value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, 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 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 transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by insiders.

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.